HC Deb 29 June 1971 vol 820 cc73-4W
51. Mr. Rost

asked the Chancellor of the Exchequer what estimate he has made of the effect on the Cost-of-Living Index resulting from a 10 per cent. reduction in the excise duty on hydrocarbon oils.

Mr. Higgins

The direct effect on the retail price index would be a reduction of about one-fifth of 1 per cent., with an additional indirect effect of about one-eighth of 1 per cent.