Sterling (Purchasing Power)

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 28 October 1947.

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Photo of Sir Waldron Smithers Sir Waldron Smithers , Orpington 12:00, 28 October 1947

In view of the fact that the purchasing power of the £ is continually depreciating, will the Chancellor inform the House what is the good of a thousand paper pounds a week if the money is worthless and there is nothing to buy in the shops? That is the position we are facing as a result of the bucket-shop finance of the Government.