§ Mr. Stratton Mills
asked the Chancellor of the Exchequer if he will state the purchasing power in present-day values of the £ sterling on 1st January, 1932, 1935, and 1939.
§ Mr. Diamond
The purchasing power in present-day values (May, 1965), of the £ sterling in the years 1932, 1935 and 1939 is approximately 5s. 7d., 5s. 6d. and 6s. 2d. These estimates are based on increments in the cost of living index up to 1938, the consumer price index from 1938 to 1964, and the index of retail prices between 1964 and May, 1965.