§ Mr. Speedasked the Chancellor of the Exchequer what would the current salary as a Member of Parliament have to be to preserve the purchasing power of £4,500 per annum in January 1972.
§ Mr. Denzil Davies, pursuant to his reply [Official Report, 17th March 1978], gave the following information:
The latest date for which information is available is February 1978. In that month, the sum with internal purchasing power equivalent to that of £4,500 in January 1972 is estimated at £10,350.
The estimate is based on changes in the General Index of Retail Prices.