HC Deb 27 July 1978 vol 954 cc832-3W
21. Mr. Ridley

asked the Chancellor of the Exchequer how many pence of February 1974 had the same value as £1 sterling currently.

Mr. Denzil Davies

Comparing the first quarter of this year with the first quarter of 1974, consumers had nearly twice as many pounds in their pockets each worth 53p. Overall, and in real terms, for every £1 consumers had in their pockets in the first quarter of 1974, they had £1.04 four years later.

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