§ 63. Major Beamishasked the Chancellor of the Exchequer what is the present value of an M.P.'s salary, taking into account the fall in the value of the £ sterling since salaries were raised to £1,000 a year subject to tax.
§ Mr. GaitskellOn the basis of expenditure over the whole field of expenditure on consumer goods and services the purchasing power of the £ has decreased by about 21 per cent. since 1946. A salary of £1,000 is, therefore, worth about £790 compared with 1946.