Page 433 The pattern of increases which we have now agreed is, therefore, as set out below. It differs from that submitted in C.P. (51) 79 in only one respect the inclusion of 1d. a quart on milk for seven months in place of the second increase of 4d. a lb. in the price of tea:
Estimated Subsidy
TIDO32
Saving in 1951-52
(£ million)
Tea Bread
4d. a lb.
7.9 Announced on 14th March
...
1d. on 31⁄2 lb. loaf
9.57
·Announced on 31st March
Flour
Butter
d. a lb.
5.0
6d. a lb.
17.25
...
Margarine Cooking Fat
4d. a lb.
12.2
Announced on 26th April
4d. a lb.
5.6
Sugar Meat
Milk
...
1d. a lb. (domestic user)
6:7
Not yet announced
...
Average of 3d. a lb.
37.3
Announced in general terms
24th April
1d. a quart for seven months 9.6 Not yet announced
111.0
6. The savings originally anticipated from the sugar and meat price increases have now been adjusted to take account of the new dates when they are to become effective and, in the case of meat, of a revised estimate of the probable savings.
7. The total estimated saving of £111 million in 1951-52 is about £5 million less than the estimated Budget saving required with a subsidy ceiling of £410 million. It may therefore be necessary on this limited count to make further price increases later in the year, but the position will have to be kept under review in the light of the prices which the Ministry of Food has to pay in the general course of its trading activities, and of the level of distribution for all food throughout the year.
7th May, 1951.
WIDE PHIL
Page 433
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H. G.
M. W.
i.R.
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