Dáil Éireann - Volume 298 - 30 March, 1977

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

1. Mr. C. Murphy asked the Taoiseach the purchasing power of £100 in mid-February, 1977, reckoning mid-February, 1973, as the base.

2. Mr. Dowling asked the Taoiseach the purchasing power of £1 sterling in mid-February, 1977 as against £1 in mid-February, 1973.

Minister for Fisheries (Mr. Donegan) (for the Taoiseach): With the permission of the Ceann Comhairle, I propose to take Questions Nos. 1 and 2 together. It is estimated on the basis of the consumer price index numbers that £190.26 would be required at mid-February, 1977, to purchase the same quantum of goods and services at retail prices as £100 would have purchased at mid-February, 1973. This means that £1 at mid-February, 1973, had the same purchasing power as £1.90 at mid-February 1977.

Mr. C. Murphy: Did I hear the Minister correctly when he said £190.36?

Mr. Donegan: £190.26.

Mr. C. Murphy: Could I ask the Minister when he anticipates that the National Coalition will deserve the caption of “the Government that halved the £”?

Mr. Donegan: I have a great feeling for what is going to happen in the months to come.

[637] A Deputy: Surely it happened before Fianna Fáil came back into power.

Mr. C. Murphy: Who halved the £?

An Ceann Comhairle: Order. Question No. 3.