HC Deb 11 May 1971 vol 817 cc69-70W
Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether he is aware that, since 16th June, 1970, the£sterling has dropped by 6p, based on the General Index of Retail Prices; and what action he has taken, or intends taking to prevent this continued depreciation in the purchasing value of the£sterling.

Mr. Higgins

The answer to the first part of the question is, Yes. The Government are continuing to pursue with vigour and determination their policy for a de- escalation in the rate of wage settlements as an essential condition for slowing down the rate of increase in prices.