§ 52. Mr. Benceasked the Chancellor of the Exchequer by how much the internal purchasing power of the £ sterling has fallen over the last 25 years; and by how much ordinary shares have appreciated during the same period.
§ Mr. MacDermotThe internal purchasing power of the £ sterling in 1964 was about 32 per cent. of its value in 1938. There is no official index of the price of ordinary shares and the indexes compiled by outside bodies give different figures. They suggest, however, that ordinary share prices in 1964 were about 4 to 4½ times their price in 1938.