§ 35. Mr. Strang
asked the Chancellor of the Exchequer what is the Government's latest estimate of the current rate of inflation in Great Britain.187W
§ Mr. Higgins
Monthly movements in the General Index of Retail Prices, which is not seasonally adjusted, tend to be volatile. It is misleading, therefore, to express them at an annual rate. The latest figures, published on 16th November, show that the index increased by 99 per cent. in the 12 months to October.
§ 39. Mr. Sydney Chapman
asked the Chancellor of the Exchequer if he will publish in the OFFICIAL REPORT basic details of the average increases in the cost of living over the last three and a half years as compared with the average increase in wages and State retirement pensions.
§ Mr. Higgins
Between June 1970 and October 1973 the retail price index rose by 32½ per cent. or at an annual rate of 8½ per cent. Over the same period both hourly wage rates and the State retirement pension rose by 55 per cent. or at an annual rate of 13½ per cent.
BORROWINGS IN FOREIGN CURRENCIES BY NATIONALISED INDUSTRIES FOR DOMESTIC PURPOSES UP TO 31ST OCTOBER 1973 Before June 1970 After June 1970 Electricity Council Deutschemarks 200 million Deutschemarks 135 million Swiss Francs 325 million United States Dollars 1,000 million Gas Council/British Gas Corporation Deutschemarks 300 million Deutschemarks 42 million Swiss Francs 525 million United States Dollars 50 million National Coal Board Nil United States Dollars 50 million North of Scotland Hydro Electric Board European Units of Account 8 million United States Dollars 25 million Post Office Nil United States Dollars 500 million South of Scotland Electricity Board Deutschemarks 60 million Deutschemarks 100 million United States Dollars 50 million British European Airways Swiss Francs 70 million (part used for external purposes). Nil