Mr. Gresham Cookeasked the Chancellor of the Exchequer what he estimates the value of £ sterling will be in three years' time.
§ Mr. CallaghanIf the hon. Member has in mind the value of the pound sterling against other currencies, the Government have stated categorically 141W their determination to maintain the present parity. If the Question relates to the domestic purchasing power of the pound, this depends on our collective success in keeping the growth in money incomes—wages, salaries and profits—in line with the rise in productivity.