§ Sir Brandon Rhys Williams
asked the Chancellor of the Exchequer what is his latest estimate of the purchasing power of £1 sterling against each of the currencies 451W of the other European Economic Community member States, using equal purchasing power parities.
§ Mr. Biffen
Purchasing power parities are based on the relative prices in various countries of the goods and services purchased for consumption and investment. The latest estimates available for EEC countries, compiled by the statistical office of the European Communities relate to 1978. They are produced on an annual basis only.
PURCHASING POWER PARITIES (ALL DOMESTIC EXPENDITURE) 1978 Equivalents to £1 UK Germany (Fed Rep) 5.72 D'Marks France 11.27 Francs Italy 1,608 Lira Netherlands 6.16 Guilders Belgium 91.56 Francs Luxembourg 87.95 Francs Irish Republic 1.03 Irish Pounds Denmark 16.56 Kroner