§ Mr. Collickasked the Chancellor of the Exchequer whether he is aware that, taking the internal purchasing value of the £1 sterling as 20s. in October 1951, it had declined to 18s. in June, 1954, and to 15s. 1ld. in June, 1957; and what was the comparable figure for October, 1963.
Mr. M. MacmillanYes, basedon the movements in the Index of Retail Prices. The comparable figure for October, 1963, was 13s. 9d.
§ Mr. Dempseyasked the Secretary to the Treasury if he will publish in the Official Report figures showing the internal purchasing power of the £ sterling, taking it as 20s. in 1951, for each subsequent year, in terms of shillings and pence.
Mr. M. MacmillanThe table below shows the changes in the internal purchasing power of the £ sterling, taken as 20s. in 1951, on the basis of the consumer price index:
4545 s. d. 1951 20 0 1952 18 11 1953 18 7 1954 18 3 1955 17 7 1956 16 10 1957 16 4 1958 15 11 1959 15 10 1960 15 9 1961 15 3 1962 14 9