HC Deb 09 November 1954 vol 532 cc1035-6
37. Mr. Dodds

asked the Chancellor of the Exchequer the internal purchasing power of the £ sterling at the latest convenient date when compared with October, 1951.

42. Mr. de Freitas

asked the Chancellor of the Exchequer the internal purchasing power of the £ sterling at the most recent convenient date, compared with a purchasing power of 20 shillings in October, 1951.

The Chancellor of the Exchequer (Mr. R. A. Butler)

The internal purchasing power of the £ sterling is estimated on the basis of the latest available figures to have been 18s. 9d. in September, 1954, compared with 20s. in October, 1951. This calculation is based on the price index for all consumer goods and services between 1951 and 1953, and the Interim Index of Retail Prices thereafter.

Mr. Dodds

Is not the right hon. Gentleman rather disappointed that the internal position is so low after three years of Tory misrule, and how is he going to explain that to the electorate at the next General Election?

Mr. Butler

Her Majesty's Government will explain it by contrasting it with the disastrous failure of the previous Government.