§ 91. Mr. John Hallasked the Chancellor of the Exchequer how the purchasing power of the maximum retired pay of a lieutenant-colonel in the British Army who retires today compares with that received by an officer of the same rank when he retired on 1st April, 1935.
§ Mr. BarberThe maximum retired pay of a lieutenant-colonel retiring in 1935 was £543 per annum. This sum, on the basis of changes in the cost of living index between 1935 and 1938, the consumer price index between 1938 and 1958, and the index of retail prices for 1959, is equivalent to £1,675 today. The maximum retired pay of a lieutenant-colonel retiring today is £800 per annum, in addition to which a lump sum terminal grant of £2,400 is payable.