§ Mr. Rhys Daviesasked the Chancellor of the Exchequer the purchasing power in this country of the £ in 1900, in each decennial period since; and in 1945.
§ Sir J. AndersonEstimates of changes in purchasing power should be based on retail prices over the whole field of personal expenditure, but, as I explained in my reply to a Question by the hon. Member for Chislehurst (Sir W. Smithers) on 12th December, 1944, estimates of changes in such prices have been made only in respect of a few recent years. The estimates given below have been prepared on the basis of changes in the official cost-of-living index from 1914 onwards, supplemented by private estimates on a similar basis for the years before 1914. Taking the purchasing power of the £ in 1900 as 100, the corresponding figures for later years are approximately:
Calculated over the whole field of personal expenditure the figure for 1945 would probably be about five points lower than that given above.
1910 … … 95 1920 … … 36 1930 … … 58 1940 … … 50 January, 1945 … … 45