HC Deb 26 June 1979 vol 969 c167W
Mr. Michael Brown

asked the Chancellor of the Exchequer what are the Treasury's forecasts of the unemployment figure 12 months from 1 May.

Sir Geoffrey Howe

I refer my hon. Friend to the reply I gave to the hon.

Date of Budget Forecast RPI effects Changes in RPI over following 12 months per cent.
26 March 1974 "In terms of retail prices the action that we are taking on food subsidies will lower the index by about 1½ per cent. and this will largely offset the increases in the excise duties and the changes in VAT". [Official Report, Vol. 871, c. 327]. 21.2
12 November 1974 "The relaxation of the Price Code and the increase in the value added tax on petrol will, of course raise the retail price index: the effect by the middle of next year I estimate at a little over 1½ per cent.". [Official Report, Vo. 881, c. 278]. 25.2
15 April 1975 "Mainly by adjusting the excise duties to reflect past inflation, my Budget measures themselves will put up the RPI by about 2¾ per cent.". [Official Report, Vol. c. 318]. 18.9
6 April 1976 "Together all these indirect tax changes will add about ¾ per cent. to the Retail Price Index". [Official Report, Vol. 909, c 260]. 17.5
29 March 1977 "The effect on the RPI by the fourth quarter of this year will be an increase of just under 1 per cent.". [Official Report, Vol. 929, c. 275]. 9.1
11 April 1978 "The effect on the RPI will be negligible". [Official Report, Vol. 947, c. 1203]. 10.1