HL Deb 04 April 1979 vol 399 cc1966-7WA
Lord O'HAGAN

asked Her Majesty's Government:

To estimate the effect on:

  1. (a) the cost of living; and
  2. (b) the price of food

of:—

  1. (i) a 5 per cent. devaluation,
  2. (ii) a 10 per cent. devaluation,
  3. (iii) a 15 per cent. devaluation, and
  4. (iv) total parity;

of the green pound as against the normal pound.

Lord STRABOLGI

The estimated effects of the green pound devaluations specified on the retail price index and on food prices are set out below. Devaluation to parity means devaluation of the green

Devaluation 5% 10% 15% To Parity
Estimated effect on Retail Price Index up to ¼% about ½% nearly 1% just over 1%
Estimated effect on food prices up to 1% about 2% up to 4% about 5%