HC Deb 06 March 1972 vol 832 c233W
71. Mr. Carter

asked the Chancellor of the Exchequer what is the value of the £ sterling expressed in pence now, as compared with June, 1970.

Mr. Higgins

Taking the internal purchasing power of the £ sterling as 100p in mid-June, 1970, its value in mid-January, 1972, the latest date for which information is available, is estimated at 88p.

This estimate is based on the movements in the General Index of Retail Prices between the two dates.