§ Mr. Lawsonasked the Chancellor of the Exchequer (1) if he will indicate in index number form, the relationship be- 270W tween 1977–78 prices and 1978 survey prices as used in the public expenditure White Paper (Cmnd. 7439), 1978–79 prices as embodied in the 1978 Financial Statement and Budget Report and accompanying tax tables, the average retail price level for calendar year 1978, and 1979 prices;
(2) if his latest estimates for prices during 1978–79 differ significantly from those made at the time of the April 1978 Budget.
§ Mr. Joel Barnett, pursuant to his reply [Official Report, 15 February 1979; Vol. 962, c. 641], gave the following information:
The movement between 1977–78 prices and 1978 survey prices as estimated for total public expenditure in Cmnd. 7439 was about 3 per cent. I do not have an estimate of the movement between 1977–78 prices and 1979 survey prices.
The forecast of the change in prices, as represented by the retail price index, from the fourth quarter of 1977 to the fourth quarter of 1978 was 7 per cent. as published in the 1978 Financial Statement and Budget Report. The forecast change between 1977–78 and 1978–79 was very similar. The actual increase in the retail price index between the fourth quarter of 1977 and the fourth quarter of 1978 was 8 per cent.
The increase in the retail price index between 1977–78 and calendar 1978 was 6 per cent.