§ 66. Sir C. Osborneasked the Chancellor of the Exchequer by how much the internal purchasing power of the £ sterling has fallen since devaluation; and by how much more he estimates it will fall in 1969.
§ Mr. DiamondThe internal purchasing power of the £, as measured by the retail price index, fell by just over a shilling between November, 1967 and November, 1968. Of that figure probably about four pence or five pence was the result of448W devaluation. By contrast the external purchasing power of the £, as measured by the sterling price of the dollar, fell on devaluation by just over 14 per cent. or nearly three shillings in the pound.