£ Sterling (Purchasing Value)

HC Deb 23 November 1962 vol 667 cc163-4W

Mr. Collick

asked the Chancellor of the Exchequer whether he is aware that, taking the internal purchasing value of the £ sterling as 20s. in October, 1951, it had declined to 18s. in June, 1954, and to 15s. 11d. in June, 1957; and what was the comparable figure for October, 1962.

Mr. Barber

Yes, on the basis of the retail price index. The comparable figure for October, 1962, was 14s. 1d.