HC Deb 14 July 1975 vol 895 cc346-7W
Mr. MacGregor

asked the Chancellor of the Exchequer (1) what gross income would be required in 1975–76 to provide the equivalent gross income in real terms to that obtained in 1970–71 by someone then earning £2,000, £4,000, £6,000, £8,000, £10,000, £12,000 and £15,000 per annum;

(2) what gross income would be required in 1975–76 to provide the equivalent gross income in real terms to that obtained in 1965–66 by someone then earning £2,000, £4,000, £6,000, £8,000, £10.000, £12,000 and £15,000 per annum;

(3) what gross income would be required in 1975–76 to provide the equivalent gross income in real terms to that obtained in 1961–62 by someone then earning £2,000, £4,000, £6,000, £8,000, £10,000, £12,000 and £15,000 per annum.

Mr. Denzil Davies

The figures in the following table are based on the change in the General Index of Retail Prices from its level on average in the earlier financial years to its level in May 1975, since no figures are available at present of its average level in the financial year 1975–76:

Gross Income in earlier years Gross Income in earlier years adjusted by change in RPI to May 1975
1961–62 1965–66 1970–71
£ £ £ £
2,000 5,200 4,600 3,600
4,000 10,400 9,200 7,200
6,000 15,600 13,800 10,800
8,000 20,800 18,400 14,400
10,000 26,000 23,000 18,000
12,000 31,200 27,600 21,600
15,000 39,000 34,500 27,000

Mr. Sillars

asked the Chancellor of the Exchequer if he will publish a table showing the devaluation of sterling, month by month, since the decision was taken to float the £.

Mr. Dell

The information requested is detailed in Table 106 of the Central Statistical Office's publicationFinancial Statistics.