§ 36. Mr. Cleggasked the Chancellor of the Exchequer what has been the effect on the index of retail prices of all increases in indirect taxation, including the selective employment tax, since 1964.
§ Mr. TaverneI estimate that the effect since October, 1964 has been to raise the index by about 6½ per cent. above the level it would otherwise have reached.
§ 39. Mr. Tapsellasked the Chancellor of the Exchequer what he estimates has been the effect to date of devaluation on the index of retail prices, and of increases 54W in indirect taxation, including the selective employment tax, respectively since November, 1967.
§ Mr. TaverneI estimate the effect of devaluation at rather less than 3 per cent. and that of increased indirect taxation, including S.E.T., at about 3 per cent.