HC Deb 10 March 1980 vol 980 cc450-1W
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 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.

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

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