§ 40. Mr. Ron Brown
To ask the Chancellor of the Exchequer what is the current value of the 1979 pound sterling after taking inflation into account; and if he will make a statement.
§ Mr. Lilley
The real effective sterling exchange rate (based on relative normalised unit labour cost, as published by the IMF on the United Kingdom country page of "International Financial Statistics") averaged 83.6 in 1979 and 106.1 in October 1988.