HC Deb 05 April 1971 vol 815 cc42-3W
Mr. Bishop

asked the Chancellor of the Exchequer, at the latest date for which figures are available, what variation there is in the purchasing power of a Member of Parliament's salary in percentage and value since it was last fixed.

Mr. Higgins

Between October, 1964, and February, 1971, the latest date for which information is available, the purchasing power of the pound is estimated to have fallen by 25.8 per cent. Applied to a salary of £3,250 this is equivalent to a fall to £2,411.50.

These estimates are based on the movement in the Consumer Price Index from 1964 to 1970 adjusted by the movement in the General Index of Retail Prices for the months at the beginning and end of the period.