§ Mr. Strangasked the Minister of Agriculture, Fisheries and Food what will be the effect of a proposed 7.8 per cent. increase in farm prices, as proposed by the European Commission, on the retail price index, the food price index and the prices of one pound of (a) butter, (b) bacon, (c) cheese, (d) sugar and (e) beef.
§ Mr. Peter WalkerIt is estimated that if its proposals on prices were adopted, without the proposed revaluation of the green pound, the result might be to add about 0.25 per cent. to the retail price index, when all the effects had eventually worked through, or slightly over 1 per cent. to the food price index. The effect on individual foods will as always depend on market conditions for the commodities concerned.