Sterling

HC Deb 10 February 1976 vol 905 cc130-1W

Mr. English

asked the Chancellor of the Exchequer what is the present purchasing power of the £1 sterling of October 1934.

Mr. Denzil Davies

Taking the internal purchasing power of the pound as £1 in 1934, its value in December 1975, the latest date available, is estimated to be 11p. The basis for this estimate is given in "The Internal Purchasing Power of the Pound", a leaflet released by the Press and Information Service of the Central Statistical Office.