§ 64. Mr. Hileyasked the Chancellor of the Exchequer what has been the annual average decline in the value of the £ sterling between October, 1964, and the latest date for which figures are available; and what was the corresponding figure for October, 1951, to October, 1964, October, 1951, to October, 1959, and October, 1959, to October, 1964.
§ Mr. Harold LeverIt is estimated that the value of the £ sterling declined at an annual average rate of 4.2 per cent. between October, 1964, and April, 1969, the latest date for which figures are available. The corresponding estimated rates of decline in the other periods specified were 2.5 per cent. between October, 1951, and October, 1964; 2.4 per cent. between October, 1951, and October, 1959; and 2.8 per cent. between October, 1959, and October, 1964.
These estimates are based on movements in the consumer price index for calendar years adjusted by changes in the index of retail prices in the odd months at the beginning and end of the periods.
§ Mr. Alisonasked the Chancellor of the Exchequer how much of the decline in the purchasing power of the £ sterling from October, 1964 to the latest date for which figures are available is attributable to tax increases.
§ Mr. Harold LeverIt is estimated that about one-third of the decline in the purchasing power of the £ sterling between October, 1964, and April, 1969, the latest date for which figures are available, is attributable to increases in indirect taxation.