§ Mr. Craigenasked the Chancellor of the Exchequer what would be the impact of the following measures on the retail price index (a) a 1 per cent. rise in the standard rate of value added tax (b) a single rate of value added tax levied at 12½ per cent. and (c) a single rate of value added tax levied at 15 per cent.
§ Mr. Peter ReesIt is estimated that the retail price index would be increased by about (a) ½ per cent. (b) 2 per cent., and (c) 3½ per cent. respectively.
§ Mr. Denzil Daviesasked the Chancellor of the Exchequer, assuming an identical pattern of spending, what would be the extra annual cost to a family of two adults and two children with a total gross family income of £4,000 per year of a standardisation of value added tax of 12½ per cent.
§ Mr. Peter ReesI shall let the right hon. Member have a reply as soon as possible.