§ 70. Mr. Danceasked the Chancellor of the Exchequer what proportions of the rise in the index of retail prices since 69W November 1967 have been attributable to the effects of devaluation, of increases in taxation, of increased charges by nationalised industries and to other causes, respectively.
§ Mr. Harold LeverThe Index of Retail Prices rose by 7.2 per cent. between November, 1967 and January, 1969. I estimate that devaluation accounted for rather less than 3 per cent. of this rise, increased taxation for about 2½ per cent., and increased charges by nationalised industries for about one half of one per cent. It is not possible to identify precisely the causes of the remaining increase in the index.