§ 25. Mr. Skinnerasked the Chancellor of the Exchequer what, on the basis of the General Index of Retail Prices, is the purchasing power of the £ sterling now, taking it as 100p on 18th June, 1970.
§ Mr. NottTaking the internal purchasing power of the £ sterling as l00p in mid-June 1970, its value in mid-June 1972 is estimated at 86½p. This estimate is based on changes in the Consumer Price Index between 1970 and 1971 adjusted by movements in the General Index of Retail Prices for the months at the beginning and end of the period. If the estimates were based solely on movements in the General Index of Retail Prices, the corresponding figure would be 85½p.