§ 5. Sir J. Langford-Holtasked the Secretary of State for Defence by what percentage the retired pay of a major over 60 years of age has been reduced in purchasing power since his retirement in 1946; in what five-year period this fall was greatest; and by how much the purchasing power of such a pension fell during this period.
§ Mr. KirkTaking into account the effect of pensions increase measures the net reduction in purchasing power between April, 1946, and April, 1964, was 24.2 per cent. The five-year period in which the fall was greatest was June, 1947, to June, 1952, during which the reduction was 27.5 per cent. The figures on which this calculation is based are taken from the Cost of Living Index, the 1947 Interim Index and the 1956 and 1962 Indices of retail prices.