§ 44. Sir C. Osborneasked the Chancellor of the Exchequer, in view of the fact that the £481 million 2½ per cent. Treasury Stock, which was issued at par in November 1946, is now quoted at 38 per cent., how much percentage the original buyers have lost, allowing for the fall in the market price and the fall in the value of money.
§ Mr. DiamondTaking the purchasing power of the pound as 20s. in 1946, £38 is equivalent to about 18½ per cent. of the purchasing power of the original outlay.