§ Mr. Joplingasked the Minister of Agriculture, Fisheries and Food whether he will make a statement on how he intends to implement the decision of the House to devalue the green pound.
§ Mr. BishopI refer the hon. Member to the statement my right hon. Friend made to the House yesterday.
§ Mr. Joplingasked the Minister of Agriculture, Fisheries and Food what is the effect on the retail price index and on the food index of increasing the devaluation of the green pound from 5 per cent, to 7½ per cent.
§ Mr. BishopMy right hon. Friend estimates that the effect of a 7½ per cent, devaluation of the green pound in a full year is to raise the food price index by about 1½ per cent, and the retail price index by about one-third of 1 per cent. The corresponding figures for a devaluation of 5 per cent, are about 1 per cent, and about a quarter of 1 per cent.