§ Mr. Knoxasked the Chancellor of the Exchequer by how much the purchasing value of the £ sterling has fallen since October 1964 to the latest available date; and, from information available from international sources, how this compares with the figures for France and West Germany.
§ Dr. GilbertIt is estimated that between October 1964 and March 1974, the latest date for which data are available from international sources, the internal purchasing power of the £ sterling fell by 45 per cent. This estimate is based on the change in the General Index of Retail Prices over this period. Based on the changes in the relevant indices of consumer prices over the same period, it is estimated that the internal purchasing power of French currency fell over the same period by 39 per cent. and of West German currency by 32 per cent.—[Source: OECD Main Economic Indicators.]