Sunday, March 12, 2006
Peerages Going Far Too Cheap
Further to this morning's post, I've done some more digging into the price of peerages. And I've come up with some very disturbing findings.
Of course, facts are a tad scarce because invoices are not generally issued. But we have it on good authority that Lord Vestey's peerage cost him £20,000 in 1922. Since at that time GDP per head was about £100, the Baron paid 200 times that.
Now, 200 times today's GDP per head would be nearly £4m. But today's going rate is actually only £1m. Something has clearly gone very wrong, particularly when you consider today's supply is supposed to be more restricted.
Neither does it help if you go back further. Right back at the time of James I, Lord Teynham paid £10,000 for his peerage. Which would translate into about £30 gzillion today.
I suggest that as a matter of extreme urgency, Charlie and Tony should review their charging tariff. It's bad enough to know these things are still being sold. It's even worse to know that it's being done so ineptly.
Posted by Mike D at 9:18 pm