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£ Sterling

Volume 885: debated on Thursday 30 January 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer, taking the £ as 100p today, what its equivalent purchasing power, expressed in terms of new pence, was in 1914, 1938, 1947 and 1951, respectively.

Taking the internal purchasing power of the pound as 100p in December 1974, the latest available date, its value is estimated to have been:

1,050p in1914
670p in1938
370p in1947
300p in1951

The basis for these estimates is given in "The Internal Purchasing Power of the Pound", a leaflet released by the Press and Information Service of the Central Statistical Office.