§ Mr. Bishopasked the Chancellor of the Exchequer what is the amount, and percentage, of variation in the purchasing power of Members of Parliament's salaries since they were last fixed in 1964.
§ Mr. Patrick JenkinBetween October, 1964, and October, 1970, the latest available date, the purchasing power of the £ sterling is estimated to have fallen by 24.1 per cent. Applied to a salary of £3,250 this is equivalent to a fall to £2,467. These estimates are based on the movements in the Consumer Price Index for calendar years adjusted by the movements in the Index of Retail Prices for the months at the beginning and end of the period.