§ 49. Mr. Lewisasked the Prime Minister whether he is aware that, since October, 1951, the market value of gilt-edged securities has fallen by more than £2,000 millions, that the cost of living has been continuously rising, and that the £ sterling is now worth less in purchasing value than at any previous time; and whether he will make a radio and television broadcast making a factual statement as to the causes and the remedies which the Government propose to take to restore the value of the £ sterling, restore the value of the gilt-edged securities to their pre-1951 level, and reduce the cost of living.
§ The Prime MinisterAs I explained in reply to my hon. Friend the Member for Louth (Mr. Osborne)on 21st 223 February, 1956, it is impossible to give any reliable estimate of the change in the total market value of all Government securities, owing to the changes in the volume and composition of the National Debt. The answer to the second part of the Question is, "No, Sir."
§ Mr. LewisA lot of water has flowed under Waterloo Bridge since then. Is the Prime Minister aware that the Chancellor of the Exchequer made a bloodcurdling statement a few weeks ago about the dangers facing the people of this country and that a few days afterwards the Prime Minister made a statement completely in contradiction? Can he tell us whether we are to believe the Chancellor or the Prime Minister and whether there is any unity of purpose between them at all?
§ The Prime MinisterAll statements made by Ministers—myself and my colleagues—are well-balanced and sound. I understand that we are to have an opportunity in a day or two of debating all these and cognate matters, and I hope that the hon. Member will be successful, Mr. Speaker, in catching your eye.