§ Mr. Giles Shawasked the Chancellor of the Exchequer if he will now state what effect he estimates the proposed increases in nationalised industries' prices will have on the retail prices index.
§ Mr. Joel BarnettThe increases in domestic gas prices averaging 12 per cent. from 1st January 1975 will increase the retail prices index by about 0.15 per cent. Further estimates cannot be given at this stage. Nor is it possible to give an estimate of the total effect on the index of increases next year in nationalised industry prices. For the most part the industries have yet to make their proposals for price increases, and where appropriate the Price Commission and the Ministers concerned will need to consider whether they are acceptable.