§ The Economic Secretary to the Treasury (Sir Edward Boyle)
It is estimated that the internal purchasing power of the £ was about 18s. 5d. in May, 1955, as compared with 20s. in October, 1951, and that the corresponding figures for May, 1952, 1953 and 1954 were 19s. 7d., 19s. 2d. and 19s. 1d. respectively. This estimate is based on the consumer price index between 1951 and 1954, and the Interim Index of Retail Prices thereafter.
§ Sir E. Boyle
On that subject I can only refer the hon. Gentleman to the very 476 full speech made on 16th June by my right hon. Friend the Chancellor of the Exchequer during the debate on the Address.