§ Mr. David Clark
asked the Chancellor of the Exchequer what was the purchasing power of £1 on 1st July, 1960, 1965 and 1970 respectively, on the assumption that it is worth 20s. at the present date.
§ Mr. Higgins
Taking the value of the pound as 20s. in mid-November, 1970, the latest date for which information is available, its purchasing power in mid-July, 1960, 1965 and 1970, is estimated to have been 30s., 25s. 6d. and 20s. 5d. respectively. These estimates are based52W on the movement in the Consumer Price Index for calendar years adjusted by the changes in the General Index of Retail Prices for the months at the beginning and end of each period.