§ 52. Lieut.-Colonel Liptonasked the Chancellor of the Exchequer the present internal purchasing value of the £ sterling, taking the value in October, 1951, as 20s.
§ Mr. H. BrookeTaking the internal purchasing power of the £ as 20s. in October, 1951, it is estimated that the corresponding figure for February, 1956, is 17s. 9d. This estimate is based on the consumer price index between 1951 and 1955 and the index of retail prices since then.
§ Lieut.-Colonel LiptonIs not the internal purchasing value of the £ about the only thing that the Government have brought down in the last few years? Should we not give debit where debit is due—to the present Government?
§ Mr. BrookeWe have not allowed the value of the £ to dive as it did under the Labour Government in 1951.
§ Captain PilkingtonWill my right hon. hon. Friend confirm that the value of the £ fell by 6s. between 1945 and 1951?