§ Mr. Robert Sheldon
I regret it is not possible to say how much further the rate would have fallen in the absence of intervention.
§ Mr. Freud
asked the Chancellor of the Exchequer (1) taking the value of £1 as 100p on 1st April 1976, what was the adjusted value of £1 on the anniversary of this date for each of the last seven years;
(2) taking the value of the £1 as 100p on 1st April 1976, what would be the adjusted value of the £1 on the anniversary of that date for each of the next seven years, assuming an annual rate of inflation equal to the average rate of inflation over the last seven years.