Rating the value of payments: prices as indexed in 1989

The value of payments made to Mr Ray Burke in the 1970s and 1980s is hard to calculate given wage inflation, fluctuating exchange…

The value of payments made to Mr Ray Burke in the 1970s and 1980s is hard to calculate given wage inflation, fluctuating exchange rates and the price of goods.

Changes in the Consumer Price Index indicate that £1 in 1982 had the equivalent purchasing power of €2.62 today, 20 years later.

But such blunt calculations do not disclose the full benefit of payments to Mr Burke because they were received in more difficult economic times when there was far less cash circulating.

A snapshot of consumer prices and other indicators before the June 1989 general election - when Mr Burke is said to have received more than £100,000 in donations - shows how purchasing power has changed:

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Four-bedroom house in Foxrock, Dublin: £80,000

Pint of Guinness: £1.45

Evening dinner menu at a mid-priced restaurant: £12.50

Two-week chalet holiday in Austria: from £319

Ryanair return flight Dublin-Paris: from £171

14-inch colour TV: £229

Remote control video recorder: £399

New Volkswagen Golf GTI: £14,000

Abbey Theatre tickets: from £5

Central Bank interest rate: 9 per cent

Office receptionist's salary: £9,500

TD's salary: £23,177

Minister's salary: £48,991