The History of the British Economy

James Callahan promised to halve inflation in 12 months, which is Rishi Sunak's policy today. The British economy hasn't transformed because of Europe and we're not immune to these shocks from outside of our control. We had a better system for managing it then or a worse system? I think regardless of whether it was better or worse, it was very different. That's what we should start with. It starts to rise quite sharply from 1967. Compared to, well, not all European countries, but certainly compared to West Germany, is it starts to riseQuite sharply from 1967 - the year when Wilson finally decided to devalue sterling. Then subsequently, you get the winter of discontent