Financial Resolutions, 1978: Financial Statement, Budget, 1978. - Stock relief
Stock relief was introduced in 1975 as a means of counteracting, in anad hoc manner, the effects of inflation on the liquidity of firms in the main sectors likely to be most seriously affected. Despite the significant drop in the inflation rate, I propose to continue the stock relief on the existing basis for a further year. This will cost £5 million in 1978.