HC Deb 09 April 1963 vol 675 cc1073-4
16. Sir Richard Pilkington

asked the Chancellor of the Exchequer by how many shillings and pence the purchasing power of the £ sterling, taking 20s. as its value in 1945, decreased from 1945 to 1951, and from 1951 to 1962, respectively.

Mr. Maudling

On the basis of the change in the consumer price index the purchasing power of the £, taken as 20s. in 1945, fell by 5s. 4d. between 1945 and 1951 and by a further 3s. 10d. between 1951 and 1962.

Sir Richard Pilkington

As the Labour Government had the great advantage of the American and Canadian loans, are not these figures a ghastly warning of what would happen if the Socialist Party were returned to power?

Mr. Callaghan

Does the Chancellor think that a drop of 3s. 10d. justifies the Conservative Party's claim that it would mend the hole in the housewives' purse?

Mr. Maudling

It justifies confidence in our prospects for the next election.