§ 46. Mr. Osborne
asked the Chancellor of the Exchequer what was the internal purchasing power of the £ on 1st March, 1951, as compared with 20s. on 1stAugust, 1945.
§ Mr. Gaitskell
Information in respect of the dates in the Question is not available but it was about 15s. 6d. in February, 1951, as compared with 20s. over 1945 as a whole.
§ Mr. Osborne
Does the Chancellor agree with the "Economist" editorial at the week-end, that this year we are likely to see a catastrophic fall in the internal purchasing power of the pound?
§ Sir W. Smithers
Is not the short answer to all these questions that the philosophy of Socialism has ruined our national credit?