Tax and Price Index

HC Deb 17 February 1981 vol 999 c84W

Mr. Austin Mitchell

asked the Chancellor of the Exchequer by how much the tax and price index has been reduced by excluding negative monetary compensatory amounts payable under the common agriculture policy, assuming that the current level of the monetary compensatory amounts does not reduce consumption below the 1980 level.

Mr. Lawson

To the extent that monetary compensatory amounts affect the price of food, they affect both the TPI and the RPI in exactly the same way.