§ Mr. A. Lewis
asked the Chancellor of The Exchequer whether he is aware that, notwithstanding a continued fall in our import prices and a rise in our export prices, the £ sterling has fallen in purchasing value from 20s. in October, 1951, to 15s. 4d. in 1959; and whether he will appoint a committee of inquiry to ascertain the reasons for this continuing fall in the purchasing value of the £ sterling.
No. We have already had the benefit of the study of this problem by the Council on Prices, Productivity and Incomes in their First and Second Reports.