§ Mr. Silvesterasked the Secretary of State for Prices and Consumer Protection what estimate she has of the value of the 10 per cent. cut in retail margins established under the Price Code, taking into account those retailers whose gross margins were already reduced from their reference level and those retailers exempted because of the current level of their net margin.
§ Mrs. Shirley WilliamsTaking into acount the safeguards and the fact that retailers' net profit margins on average are already below reference levels as indicated in the latest Price Commission report, it can be estimated that the effect of the 10 per cent. cut will be to reduce net profit margins in the food sector by something between 6 per cent. and 8 per cent. and in the non-food sector by between 7 per cent. and 10 per cent.