HC Deb 24 January 1972 vol 829 cc342-3W
Mr. Carol Johnson

asked the Chancellor of the Exchequer what change in the value of the £ sterling has occurred since 5th April, 1965.

Mr. Higgins

Taking the value of the £ as 100 pence in mid-March, 1965, the nearest available date before 5th April, 1965, its value in mid-December, 1971, the latest date available, was 70½ pence. This estimate is based on the change in the annual Consumer Price Index between 1965 and 1970 adjusted by the change in the General Index of Retail Prices for the months at the beginning and end of the period.