§ 71. Mr. Lewis
asked the Chancellor of the Exchequer whether he will move to appoint a Select Committee to inquire into the reasons why, from 1951 until May, 1959, the purchasing power of the £ sterling fell to 16s. and the consumer price index rose by 25 per cent. at the same time as United Kingdom import prices had fallen by 14 per cent. and United Kingdom export prices had increased by nine per cent.
§ Mr. Erroll
No. The facts about the trend of prices in recent years have been set out, and its causes carefully analysed, in a number of reports and Government statements which are available to the hon. Member. Since the end of 1958 the purchasing power of the £ has increased.