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£ Sterling

Volume 961: debated on Wednesday 24 January 1979

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asked the Chancellor of the Exchequer what has been the change in the purchasing value of the £ sterling for each of the years from 1975 to 1978.

Taking the internal purchasing power of the £ as 100p in December 1974, the value in December 1975 was 80p; in December 1976, 70p; in December 1977, 62p; and in December 1978, 57p. The estimates are based on movements in the General Index of Retail Prices.