asked the Taoiseach (a) the amount of money it took, at the latest date for which figures are available, to purchase the equivalent of 20 shillings in May, 1965; and (b) the percentage decrease in the value of the £1 since May, 1965.
Ceisteanna—Questions. Oral Answers. - Value of £1.
3.
It is estimated on the basis of the consumer price index numbers that £1.36 would be required at mid-February, 1971, to purchase the same quantum of goods and services at retail prices as £1 would have purchased in May, 1965. This is equivalent to a decrease of 26.3 per cent.
Would the parliamentary Secretary not agree that the £1 has lost value in the last five years at a more rapid rate than in the previous 12 years due to the fact that the Government have done nothing about inflation?
Question No. 4.