§ Mr. Arthur Lewisasked the Chancellor of the Exchequer whether he will give, for the latest most convenient stated date, the number of firms, organisations, and trading associations who have advised him that they will reduce prices now that a 50 per cent. reduction has been made in selective employment tax; to what extent he estimates these reductions and the passing on of the £300 million selective employment tax to the consumer will reduce prices and the cost of living; and when he expects these reductions to take place.
§ Mr. HigginsPrice reductions do not have to be notified to the Government, but since April the hon. Member will have seen many announcements of price cuts in advertisements and Press releases. As regards the second part of the Question, the variables are such that I do not think that I could usefully make 117W a quantitative estimate of the effect the cut in S.E.T. will have on the cost of living.