HC Deb 11 November 1982 vol 31 cc240-1W
16. Mr. Greville Janner

asked 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 Wainwright

asked the Chancellor of the Exchequer what is the present purchasing power of the £ sterling compared with May 1979.

Mr. Wakeham

Based 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.

22. Mr. Thomas Cox

asked the Chancellor of the Exchequer whether he will take steps to devalue the £ sterling.

Mr. Wakeham


Mr. Jim Marshall

asked 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. Wakeham

From 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 McKay

asked 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-Gardyne

I shall let the hon. Member have a reply as soon as possible.