§ Mr. Geoffrey Finsbergasked the Chancellor of the Exchequer what is the purchasing power of the £ sterling at the latest convenient date; and what it was in June 1970, taking it as 100p in February 1950.
§ Mr. NottTaking the internal purchasing power of the £ sterling as 100p in February 1950, its value in June 1970 is estimated at 48½p and in February 1973, the latest date available, at 39½p. These estimates are based on the movement in the Consumer Price Index between 1950 and 1968, and on the movement in the General Index of Retail Prices for other periods.