HC Deb 19 October 1954 vol 531 cc148-9W
73. Sir W. Smithers

asked the Chancellor of the Exchequer the purchasing power of the £, taking 1948 as 20s., at the latest available date.

Mr. R. A. Butler

The corresponding figure for September, 1954, is estimated to be 15s. 8d. This calculation is based on the price index for all consumer goods and services for the years 1948 to 1953 and the Interim Index of Retail Prices thereafter.