§ Mr. Cartwrightasked the Secretary of State for Prices and Consumer Protection how many applications were considered by the Price Commission during the most recent three months for which figures are available; in how many cases a price increase was refused; in how many cases the projected price increase was reduced; 566W how many applications were withdrawn; and what was the estimated saving to the consumer as a result of the Commission's activities.
§ Mr. MaclennanDuring the period 1st September to 30th November 1975, the Price Commission considered 1,485 notifications; 32 were rejected, 178 modified and 54 withdrawn. This reduced price increases by £121 million a year. Additionally, some firms were required to reduce or hold prices in compliance with the net profit margin controls. These savings, at an annual rate, are estimated at a further £17 million.