§ Mr. Arthur Lewisasked the Chancellor of the Exchequer when parliamentary 175W salaries were raised to their present levels; and, taking the £ as then having a purchasing value of 100p, what has been the depreciation of the purchasing value of this salary to date using the fall in the £ sterling, the rise in the cost of living index figure and the rise in the retail price index figure.
§ Dr. GilbertParliamentary salaries were raised to their present levels in January 1972. Taking the internal purchasing power of the £ sterling to be 100p in January 1972, its value in February 1974, the latest available date, is estimated to be 81½p. This estimate is based on movements in the General Index of Retail Prices. The cost of living index terminated in June 1947 on the introduction of the Interim Index of Retail Prices.