§ In all, these changes to the indirect taxes should raise about £2,400 million in 1981–82 and about the same in a full year.
§ With the partial exception of the road fuel and vehicle excise duties, the increases fall on those products which are bought by private consumers. Had all these excise duties simply been increased in line with inflation this would have added one percentage point to the RPI. The increases that I propose could add up to a further point. This is the maximum impact effect on prices. But in the longer run, by reducing public borrowing they will help to bring inflation down and ensure that it stays down.