Huw discusses David Cameron's links to Black Wednesday
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Intelligent economies have agreed that Black Wednesday would have happened regardless of who was in power. When the Tories left in 1997, inflation was at 2.6%, interest rates were at 6.5%, unemployment was at 1,600,000. They left one of the largest ever budget surpluses. Labour has destroyed this economic golden legacy.
dragonlee90 3 years ago
When will you Tories stop living in the past? Wilson was PM 40 years ago. Cameron is Tory leader NOW. Do you want someone who advised Lamont to take this disasterous action to lead Britain? Thought not.
053bss 3 years ago
Labour haven't been the party of economic competence and stability have they?
The decisions made after Black Wednesday caused 10% inflation whereas under Wilson Britain endured 29.6% inflation and 7 million unemployed.
Around the turn of the century, the then Chancellor Brown sold off most of Britain's gold reserves at the beginning of a bull market. Any investor with an ounce of intelligence would have bought as much gold as possible; it's a shame Brown seems to lack intelligence.
cuttingedgechris 3 years ago
Note: Labour had the same policy with respect to entry into the ERM, they would've done the same thing. Also recall, Lamont was just Major's fall guy, UK ERM membership started in 1990. One of the biggest mistakes we can make today, is to assume that the policy decisions of yesteryear were taken without serious thought.
word2urmuva 4 years ago