§ 24. Sir C. Osborneasked the Chancellor of the Exchequer what is the present internal purchasing power of the pound as compared with 20 shillings in 1945, and with 20 shillings in October, 1964, respectively.
§ Mr. Harold LeverIt is not possible to make an estimate of the present purchasing power of the £ compared with 20s. in 1945. Taking the internal purchasing power of the £ as 20s. in 1946 and in October, 1964, its value in December, 1967, the latest date for which information is available, is estimated at 9s. 6d. and 17s. 10d., respectively.
These estimates are based on changes in the consumer price index for calendar years, adjusted by movements in the retail price index for the months at the beginning and end of the period.