HC Deb 07 November 1950 vol 480 cc31-2W
54. Mr. Osborne

asked the Chancellor of the Exchequer what is the approximate purchasing power of the pound today as compared with 1909.

Mr. Gaitskell

There was no official or reliable cost of living index before 1914, and therefore no useful comparison is possible between the period before then and the present day. But in terms of the cost-of-living index which began in 1914, the purchasing power of the pound would now be approximately 8s. 6d.

Mr. Redmayne

asked the Chancellor of the Exchequer the purchasing power of the pound sterling taking the year 1900 as 100, at the latest available date.

Mr. Gaitskell

I would refer the hon. Member to the answer I gave today to the hon. Member for Louth (Mr. Osborne).

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