§ Mr. Marples
asked the Chancellor of the Exchequer, if the value of the £ sterling was considered as 20s. in early 1953, what would be the value of the £ sterling at the latest convenient date in 1970.
§ Mr. Higgins
Taking the internal purchasing power of the £ sterling as 20s. in January, 1953, its value in September, 1970, the latest date for which information is available, is estimated at 11s. 3d.
This estimate is based on changes in the Consumer Price Index for calendar years adjusted by movements in the Retail Price Index for the months at the beginning and end of the period.