§ Mr. Austin Mitchell
asked the Chancellor of the Exchequer whether he would expect a change in the exchange rate to have more or less effect proportionately on the cost of living as a change in the value of the green pound.
§ Mr. Lawson
The direct effect upon the retail price index of a 1 per cent. change in the exchange rate would be expected to be greater than that from a 1 per cent. change in the value of the green pound.