§ 33. Mr. Ralph Howellasked the Chancellor of the Exchequer what saving in expenditure would result from the removal of all national subsidies; and by what percentage personal income tax could be reduced if this saving were used for this purpose.
§ Mr. Robert SheldonThe removal of subsidies would not yield an equal saving in expenditure, because of the effect of the resulting price increase on other expenditure. It is not possible to estimate the net saving.