§ 61 and 62. Mr. Higginsasked the President of the Board of Trade if he will estimate, in percentage terms, the extent to which the price advantage of devaluation has been diminished by each of the following factors, namely, the abolition of the export rebate, the abolition of non-regional selective employment tax premium, the higher cost of raw materials used in producing exports, the increase in the level of United Kingdom 376W labour costs and the increase in the cost of domestic goods going into exports;
(2) if he will estimate, in percentage terms, the extent to which the price advantage of devaluation has been diminished by the 1968 increase in purchase tax, petrol tax and hydrocarbon oils tax, respectively, and the further tax increase in these items in 1969.
§ Mr. DellIt is not possible to estimate with accuracy the separate effects of these measures and factors on the costs of producing goods for export, and there are further difficulties in judging their effects on export pricing policies, but I will write to the hon. Member both about the problems of estimation and the available information.
§ Mr. Higginsasked the President of the Board of Trade (1) if he will estimate in percentage terms, the extent to which the price advantage of devaluation has been diminished by the effect of the 1968 increase in selective employment tax on export houses, insurance companies and other companies facilitating exports, the further 1969 increase in selective employment tax on these concerns, the abolition of the selective employment tax regional premium and the rise in interest rates,. respectively;
(2) what further reduction in the price advantage of devaluation he estimates will be caused by the Government's proposed increase in National Insurance contributions; and what estimate he has made of profitability in export industries before and after devaluation, taking into account the two increases subsequently made in corporation tax.
§ Mr. DellIt is not possible to estimate with accuracy the separate effects of these measures and factors on the costs of producing goods for export, and there are further difficulties in judging their effects on export pricing policies, but I will write to the hon. Member both about the problems of estimation and the available information.