HC Deb 01 July 1974 vol 876 c32W
Mr. Farr

asked the Chancellor of the Exchequer by how much the retail price index for food has risen as a result of the Budget.

Dr. Gilbert

The application of VAT to confectionery, soft drinks, ice cream and potato crisps added 1.0 per cent. to the food index. However, this was more than offset by the subsidies on butter, bread, milk and cheese, which have reduced the food index by 4.3 per cent.