§ 12. Dr. Kingasked the Chancellor of the Exchequer the relative value of the £ sterling in February, 1956, and the latest available date.
§ Mr. P. ThorneycroftOn the basis of the Index of Retail Prices, and taking the purchasing value of the £ as 20s. in February, 1956, the comparable figure for September, 1957, was 18s. 10d.
§ Dr. KingIs the right hon. Gentleman aware that his answer shows how much the pensions of civil servants and of local government pensioners have declined in value since the House began its last pensions increase Measure? Does he not think it is time that the Government did what they did two years ago and brought in a second Pensions (Increase) Bill?
§ Mr. ThorneycroftI should have thought rather that it was a good justification of the policies announced by the Government.