§ 16. Mr. Greville Jannerasked the Chancellor of the Exchequer what is his Department's estimate of the fall in the real value of the £ sterling since May 1979.
§ 35. Mr. Edwin Wainwrightasked the Chancellor of the Exchequer what is the present purchasing power of the £ sterling compared with May 1979.
§ Mr. WakehamBased on the general index of retail prices, the purchasing power of the pound fell by 33 per cent. between May 1979 and September 1982. This compares with a fall of 45 per cent. in the three years and four months after February 1974.
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§ 22. Mr. Thomas Coxasked the Chancellor of the Exchequer whether he will take steps to devalue the £ sterling.
§ Mr. WakehamNo.
§ Mr. Jim Marshallasked the Chancellor of the Exchequer what representations he has received from United Kingdom manufacturers and exporters about the need to reduce the exchange rate of the £ sterling.
§ Mr. WakehamFrom time to time such representations are received. I believe that, as was demonstrated at the recent CBI conference, many industrialists recognise that a lower exchange rate would not give any lasting gain in competitiveness.
§ Mr. Allen McKayasked the Chancellor of the Exchequer, taking the value of the £1 as 100 in 1964, what was its value in each succeeding year to 1982.
§ Mr. Bruce-GardyneI shall let the hon. Member have a reply as soon as possible.