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Dáil Éireann debate -
Wednesday, 2 May 1951

Vol. 125 No. 13

Ceisteanna—Questions. Oral Answers. - Purchasing Power of the £.

asked the Taoiseach if he will state what was the purchasing power of the £ in 1939 as compared with July, 1914, and also the present purchasing power of the £ as compared with 1939.

asked the Taoiseach if he will state what was the internal purchasing power of the £ on 31st March, 1951, as compared with 31st March, 1946.

With the permission of the Ceann Comhairle, I propose taking Questions Nos. 2 and 4 together

It is not possible to give a single reply to these questions which will cover transactions in all classes of goods and services. It is estimated, however, that £1 in August, 1939, would purchase the same quantum of goods (including rent) at retail prices as 11/7 in July, 1914, and that £1 in February, 1951, would purchase the same quantum of goods (including rent) at retail prices as 10/6 in August, 1939.

As regards the second question, it is not possible to give the information for the dates to which the Deputy referred.

It is time for us to establish an honest money system.

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