Well I remember it different I'm afraidblythburgh wrote:As Harold Wilson said about the devaluation of the pound: "It will not affect the pound in your pocket".
Think he meant the pound in you pocket will still look the same but inflation will mean it buys less.
Inflation ran riot during the Labour Govt.'s time but they were getting it under control.
Then Thatcher kept her pre-election promise to not double VAT and only raised it from 8% to 15% which is one of the reasons inflation raged again
Agreed, often such things as inflation are not altogether under Government control.planteria wrote:the detail doesn't matter now. the philosophies involved are clear
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