£ Sterling (Value)

HC Deb 25 October 1960 vol 627 c2124

4. Mr. Lipton

asked the Chancellor of the Exchequer what is the current value of the £ sterling, taking the value as 20 shillings in October, 1951.

Mr. Selwyn Lloyd

Sixteen shillings and five pence in September, 1960.

Mr. Lipton

What have all these Tory Governments done with the missing 3s. 7d.?

Mr. Lloyd

I am prepared to enter into controversy with the hon. Gentleman, particularly referring to the years 1946 to 1951, but where I think there is cause for satisfaction on both sides of the House is that since October, 1958, the fall has been only one penny.