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Mr. Michael Marshall
asked the Chancellor of the Exchequer what progress has been made in his consultations with the National Federation of Self Employed.
| Date | Net Price Effect (Percentage of RPI) | Major Measures | |
| March 1974 | … | − 0·5 | Increase in Customs duties and VAT coverage (+ 1·7). |
| Food subsidies and rent freeze (−2·2). | |||
| July 1974 | … | − 1·5 | Reduction in standard rate of VAT (−1·0). |
| Rates relief and needs allowances (−0·5). | |||
| November 1974 | … | + 0·6 | Increase in VAT rate on petrol to 25 per cent. |
| April 1975 | … | + 2·8 | Increase in Customs and Excise duty rates and vehicle excise duty. |
| Higher rate of VAT on less essentials. | |||
| Total | … | + 1·4 | |