§ Mr. Lewisasked the Chancellor of the Exchequer if he will state the relative purchasing power of the £ today in comparison with the £ having a purchasing value of 20s. on the date when the Select Committee reported on Members' salaries; and by how much the average £750 per annum expenses incurred by Members on the date mentioned in the Report, has increased by virtue of this depreciation of the purchasing value of the £.
§ Mr. P. ThorneycroftThe average of £750 per annum expenses quoted in the report related to the year ending 5th April, 1953. The purchasing power of164W the £ taken as 20s. in 1952–53 is estimated at 17s. 6d. in Jauuary, 1957, based on the consumer price index adjusted by the Retail Price Index. On this basis, the equivalent at current prices of goods and services costing £750 in 1952–53 would be about £850.