Part of the debate – in the House of Commons at 12:00 am on 21 April 1955.
I think the hon. Member knows the answer to that. It has never been the consistent policy of this Government that the value of the £ should drop, and I do not believe that it was the policy of right hon. Gentlemen opposite that the value of the £ should drop. What happened was that the value of the £ went down and down and down in their time, and the present Chancellor of the Exchequer has checked that. [HON. MEMBERS: "No."] Yes, he has.