2006-10-13 03:51:37 · 10 answers · asked by Anonymous in Social Science ➔ Economics
£80,000.00 in 1956 is equivalent to £1,198,531.94 in 2006
In other words, £80,000.00 today can buy the same as £3,974.55 could in 1956
2006-10-13 03:55:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It's funny, but Spiko's answer considers a 2% annual inflation rate. So you can see that inflation, even a supposedly low inflation rate, like 2%, is a KILLER of the value of your money. The Bank of England should be ashamed of itself.
By the way, another site shows that £80,000 from 1956 was worth £1,338,343.61 in 2005, using the retail price index.
http://eh.net/hmit/ppowerbp/
2006-10-13 11:10:52 · answer #2 · answered by Larry Powers 3 · 0⤊ 0⤋
if the money was in a non-interest bearing current account then the amount will be just the same, it will have not had any interest added. May I suggest that you get in touch with the bank in question or the British Bankers Association to trace the account. You can contact them at:
www.bba.org.uk
2006-10-13 11:00:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
£25 mill. Very rough guess, based on £80k is about 1000x av. 1956 annual income.
2006-10-13 10:56:10 · answer #4 · answered by migdalski 7 · 0⤊ 0⤋
I believe it's 80000 pounds. I'm not sure.
2006-10-13 11:38:18 · answer #5 · answered by Tia J. 2 · 0⤊ 0⤋
Nothing at all the bank notes are no longer legal tender and neither are the coins.
2006-10-13 10:59:01 · answer #6 · answered by Anonymous · 0⤊ 0⤋
about 15 - 20 million i think, what was the average weekly wage back then?
2006-10-13 10:53:43 · answer #7 · answered by Jiggy_O 2 · 0⤊ 0⤋
£80,000 plus a custodial sentence.
2006-10-13 10:53:17 · answer #8 · answered by Anonymous · 0⤊ 0⤋
not sure but i would be happy to count it for you and find out !!!
are you one of those train robbers from years ago ?
2006-10-13 10:54:07 · answer #9 · answered by 90210 aka Hummer Lover 6 · 0⤊ 0⤋
in cash i guess its still worth 80 grand.
where d'ya get it??
2006-10-13 10:55:41 · answer #10 · answered by Anonymous · 0⤊ 0⤋