§ Sir C. Osborneasked the Chancellor of the Exchequer by what percentage he estimates there will be a reduction in the standard of living as a consequence of Her Majesty's Government's devaluation policy; and for how long he estimates that this will last.
§ Mr. Harold Lever:These matters are not susceptible to exact measurement. The diversion of resources to strengthen the balance of payments will entail a temporary check to the rise in the standard of living, but the rise should be resumed thereafter at a faster rate than would otherwise have been possible.