§ Mr. Arthur Lewisasked the Chancellor of the Exchequer whether he is aware that since 1950 the cost of living has risen by 97 per cent. and that the purchasing value of the £ sterling is now worth only 10s. 2d. compared with 1950; and to what extent he estimates there will be an improvement or deterioration in these figures during the current year.
§ Mr. Roy JenkinsYes. During the current year prices will rise at more than the average rate because of devaluation and the increases in indirect taxation; there should be more stability next year.