HC Deb 15 January 1976 vol 903 c221W
Mr. Norman Lamont

asked the Chancellor of the Exchequer if he will estimate the total effect on retail prices of all the changes in indirect taxes which have taken place during his tenure of office.

Mr. Robert Sheldon

The net effect, estimated at the time, of all changes in indirect taxes and consumer subsidies since March 1974, has been to increase the retail price index by an amount that is probably about 1½ per cent.