HC Deb 04 March 1976 vol 906 c723W
Mr. Hicks

asked the Chancellor of the Exchequer what is the purchasing power of the £ sterling today compared with 1965.

Mr. Denzil Davies

Taking the internal purchasing power of the pound as 100p in 1965, its value in January 1976, the latest date available, is estimated to be 39½p. This estimate is based on the change in the General Index of Retail Prices.