§ Mr. Arthur Lewisasked the Chancellor of the Exchequer to what extent the internal purchasing value of the £ sterling has depreciated since 15th June, 1970 until the latest stated date; and what estimate he has made of the effect on the purchasing power of the £ sterling of his recent measures.
§ Mr. HigginsTaking the internal purchasing power of the £ sterling as 20s. 0d. in mid-June, 1970, its value in mid-September, 1970, the latest date for which information is available, is estimated at about 19s. 9d. As my right hon. Friend stated in the House on 4th November, the new or increased social service charges and the levy schemes for agriculture he announced on 27th October are expected to increase the cost of living by less than 1 per cent. between now and April, 1972.—[Vol. 805; c. 1094.]