HC Deb 03 November 1970 vol 805 c313W
51. Mr. Kaufman

asked the Chancellor of the Exchequer what is the purchasing power of the £ now, taking it as 20s. on 18th June, 1970.

Mr. Patrick Jenkin

Taking the internal purchasing power of the £ sterling as 20s. 0d. in mid-June 1970 its value in mid-September 1970, the latest date for which information is available, is estimated at about 19s. 9d.

This estimate is based on the movement in the Index of Retail Prices.