§ 7. Dr. Gilbertasked the Chancellor of the Exchequer what estimate he has made, to the latest convenient date, of the change in the external value of the £ sterling, in terms of a weighted average of all other currencies, since the fixed parity was abandoned in June 1972.
§ Mr. NottThe effective depreciation of sterling fluctuated between 11 and 13 per cent. between January and mid-April this year on the rate which was agreed at the Smithsonian Conference in December 1971.
§ Mr. Sillarsasked the Chancellor of the Exchequer, taking the value of the £ sterling to be 100p in October 1971, what was its value in October 1972, and what is its value at the latest available date.
§ Mr. NottTaking the internal purchasing power of the pound sterling as l00p in October 1971 its value in October 1972 is estimated at 93p and in February 1973, the latest date available, at 90½p. These estimates are based on movements in the General Index of Retail Prices.