HC Deb 22 November 1956 vol 560 c1910
11. Mr. Lewis

asked the Chancellor of the Exchequer how much of the depreciation of the £ sterling from 20s. in October, 1951, to 16s. 5d. in September, 1956, has taken place between April, 1956, and September, 1956.

The Economic Secretary to the Treasury (Mr. Derek Walker-Smith)

None. The Index of Retail Prices fell very slightly between April and September, 1956.

Mr. Lewis

While welcoming that statement, may I ask if the Minister can now give us an assurance that since September there has been no depreciation in the purchasing power of the £? Can he further give an assurance that within the next few months there will be no further depreciation as a result of the Suez intervention?

Mr. Walker-Smith

In the October figures there was, in fact, a rise of 0.6 of a point, which brings the figure back to the hon. Gentleman's starting point of April this year.