§ Mr. Lomasasked the Chancellor of the Exchequer what sum is currently equivalent to £7,000 in 1971.
§ Mr. Denzil DaviesIn October 1977—the latest date for which information is available—£16,300 had internal purchasing power approximately equivalent to that of £7,000 in 1971. This estimate is based on movements in the general index of retail prices.
§ Mr. Arthur Lewisasked the Chancellor of the Exchequer in view of the fact that the £ sterling is worth only a quarter of what it was in 1957, what it is currently worth compared with October 1974.
§ Mr. Denzil DaviesIn October 1977—the latest date for which information is available—the internal purchasing power of the £ sterling was approximately 61 per cent. of its value in October 1974.