How much would a tenner have been worth in Jane Austen’s time?
Jane Austin will be pictured on the new £10 note.
Ten pounds in Jane Austen’s time would have been worth the equivalent of £786 in today’s money, research has found.
If the Bank of England had wanted the new £10 banknote to have the same purchasing power that £10 enjoyed 200 years ago, it would need to be revalued as the £786 banknote, according to analysis by Aviva.
But the eroding impact of inflation over time means a tenner has a relative purchasing power of only 13p, compared with what it could have bought in 1817 – the year of Austen’s death – Aviva found.
Alistair McQueen, head of saving and retirement at Aviva, said: “Inflation silently shrinks the value of our hard-earned cash.
“Today’s new £10 note allows us to powerfully demonstrate the impact of inflation over time.”