§ 75. Wing Commander Bullusasked the Chancellor of the Exchequer what is the purchasing power of the pound sterling at the latest available date, as compared with the pound sterling in July, 1945.
§ Mr. GaitskellAbout 15s. 10d., as compared with 20s. in 1945.
§ Wing Commander BullusWhen does the right hon. Gentleman expect to arrest this most depressing trend?
§ Mr. GaitskellI would hesitate to say when I could arrest it, but I am trying to do it as best I can, particularly through these international organisations which deal with the prices of raw materials.
§ Mr. OsborneOn what date was that figure calculated?
§ Mr. GaitskellI think it was August, 1950.
§ Mr. OsborneThe position has deteriorated, then, very largely since that time.