§ Mr. Arthur Lewis
asked the Chancellor of the Exchequer in relation to the depreciation in purchasing power of Members of Parliament's salaries from October 1964 to October, 1970 to £2,467, what is the figure at hte latest convenient stated date.
§ Mr. Higgins
Taking the value of a Member of Parliament's salary as being £3,250 in October, 1964, its purchasing power in May 1971, the latest date for which information is available, is estimated at £2,324.
This comparison is 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.