Value of Irish pound
The Taoiseach’s reply used the consumer price index to compare purchasing power since 1976; the equivalent cost for this year was £1.64. Brief banter followed before the Chair called the next question.
asked the Taoiseach the value of the Irish pound in 1976 in comparison with its value in each subsequent year.
Comment on this
The domestic purchasing value of the £ is estimated on the basis of the consumer price index.
With the permission of the Ceann Comhairle, I propose to circulate in the Official Report a statement giving the amounts which would have been required each year since 1976 to purchase the same quantum of goods and services at retail prices as £1 would have purchased in 1976.
Following is the statement:
Cost of Purchasing the Samequantum of Goods and Services at Retail Prices.
Comment on this
The cost of purchasing the same quantity of goods and services at retail prices is £1.64.
