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£ Sterling (Value)

Volume 889: debated on Tuesday 8 April 1975

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asked the Chancellor of the Exchequer what is the present purchasing power of the pound sterling compared with 18th June 1970.

pursuant to his reply [Official Report, 7th April 1975; Vol. 889, c. 367], circulated the following information:Taking the internal purchasing power of the pound as 100p in June 1970, its value in February, the latest date available, is estimated to be 60p. This estimate is based on the changes in the General Index of Retail Prices.