§ 56. Mr. Gowerasked the Chancellor of the Exchequer if he will state, at the latest convenient date, the percentage increase in production since November, 1964, the percentage increase in the cost of living since November, 1964, the change in the internal purchasing power of the pound sterling since that date, and the percentage increase in average earnings during the same period.
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§ Mr. DiamondThe Index of Industrial Production, seasonally adjusted, increased by about 2 per cent. from November, 1964, to May, 1966. During the same period the Index of Retail Prices rose by nearly 7½ per cent. and correspondingly the purchasing power of the pound, taken as 20s. in November, 1964, declined to 18s. 8d. Average earnings of employees covered by the Ministry of Labour index increased by nearly 11 per cent. during this period.