2006-10-21 13:45:53 · 7 answers · asked by Sazzy 3 in Business & Finance ➔ Investing
Wages: In 1972, a basic farm labourer would earn an average of £16.20 for a 42 hour week, or about 39p per hour. Today's minimum wage is £5.05 per hour - 13.1 times higher, giving an "earnings equivalence" of £91.
Prices: RPI in September 1972: 21.99. Value in Sept 2006: 200.1, 9.1 times higher. So in pure purchasing power, the money would be equivalent to about £64 today.
Shares: FTSE All-share closed 1972 at 228.18, and is currently at 3150, 13.8 times higher, makes £7 of shares then worth £97 today.
So probably somewhere around £80 on average.
2006-10-22 02:42:31 · answer #1 · answered by gvih2g2 5 · 1⤊ 1⤋
Work it out,on the Eve of Decimalisation there were 240 penny's in a Pound,in the morning when the Banks and Shops opened there were 100 new pence to the Pound a BIG Rip OFF,and if we do start to use the Euro in UK the 100 n/p will only be worth 61cents, another Big Rip OFF,
Germany are already regretting agreeing to it.
2006-10-21 14:16:41 · answer #2 · answered by Anonymous · 0⤊ 3⤋
about 34 pounds seventy pence if going on average of about 4% increase per year, based roughly on savings accounts and interest rates thats going on the light side a bit
2006-10-21 14:28:59 · answer #3 · answered by Anonymous · 0⤊ 2⤋
roughly, assume 3% inflation. So multiply by (1.03)^34
2006-10-21 13:57:45 · answer #4 · answered by jack b 3 · 0⤊ 3⤋
like above 7 quid
unless it was in a silly 200% intrest account
2006-10-21 13:57:56 · answer #5 · answered by slashdog2003 3 · 0⤊ 3⤋
£7.00 obviously
2006-10-21 13:53:20 · answer #6 · answered by Dhillon 4 · 1⤊ 3⤋
i think approx £ 14 in today`s money .
2006-10-21 14:19:12 · answer #7 · answered by charlotterobo 4 · 0⤊ 4⤋