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Value of the pound

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Posted 25-04-2017 at 09:17 PM by DemolitionRed

1 million in 1973 would be equivalent to 10.553million today.

The average price for a detached property has risen approximately eighteen times over the same period from 16,980 to 305,391

Ashish Misra, Head of Investment Policy at Lloyds Bank Private Banking, said: "There is no doubt that the value of money has fallen dramatically since 1973 as a consequence of the substantial rise in the general level of prices. It is likely to be reduced significantly further over the next 40 years even if inflation is kept firmly under control.
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