HC Deb 23 January 1951 vol 483 c35
75. Wing Commander Bullus

asked 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. Gaitskell

About 15s. 10d., as compared with 20s. in 1945.

Wing Commander Bullus

When does the right hon. Gentleman expect to arrest this most depressing trend?

Mr. Gaitskell

I 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. Osborne

On what date was that figure calculated?

Mr. Gaitskell

I think it was August, 1950.

Mr. Osborne

The position has deteriorated, then, very largely since that time.