§ Mr. Biffenasked the President of the Board of Trade what effect the removal of the surcharge has had upon prices charged by the United Kingdom paper industry; and if he is satisfied that these effects have been fully reflected in price indices published in the Board of Trade Journal.
§ Mr. JayI cannot accurately distinguish these effects from those of other market factors. The wholesale price indices for particular products shown in Table 3(a) of the Board of Trade Journal articles show that in January paper and board prices fell slightly, but wallpaper prices increased. I believe that the index numbers provide a valid representation of the underlying price movements.
§ Mr. Biffenasked the President of the Board of Trade (1) if the price index of home market sales for paper industries currently standing at 120.6 is calculated from list prices or from prices currently charged by paper makers;
(2) if the wholesale price index is calculated on list prices or on the prices actually charged; and if he will make a statement.
§ Mr. JayIn requesting information from firms about prices, the Board emphasise that what are wanted are prices actually charged, net of discounts, rebates, etc.; and I have no reason to doubt that, with very few exceptions, these are what firms supply.