Soon caved into anarchy unions pay demands and set off inflation which peaked at a catastrophic 27%. Tanking, stagnant economy resulting in relentless strikes and rocketing unemployment. By 1979, UK was on it's knees after disaster socialism put industry and the country in the knacker's yard.
@@therajaofashbourne8483 Did it? Really? Inflation reached 27% in June 1975...UK's highest ever rate...and YES - UNDER LABOUR! Fully four years later when Saint Maggie came into office, it was still 10%. Yes, gradually went down....after Wilson put it through the roof. You forgot that bit!
@malthusXIII-fo3ep by 1974, the Heath govt had seeen a steadily rising rate of inflation. This continued under Wilson before he left it at a lower level than he found it. I think the reality of how political leaders impact inflation is complex, but his leadership did effectively see the country through an inflationary crisis.
@@therajaofashbourne8483 We never learn do we ....seven years after Wilson's devaluation and ''the pound in your pocket'' fiasco? He put rocket boosters under inflation. Usual Labour incompetence and blind stupidity.
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Soon caved into anarchy unions pay demands and set off inflation which peaked at a catastrophic 27%.
Tanking, stagnant economy resulting in relentless strikes and rocketing unemployment.
By 1979, UK was on it's knees after disaster socialism put industry and the country in the knacker's yard.
inflation significantly decreased during his time in office.
@@therajaofashbourne8483 Did it? Really? Inflation reached 27% in June 1975...UK's highest ever rate...and YES - UNDER LABOUR! Fully four years later when Saint Maggie came into office, it was still 10%.
Yes, gradually went down....after Wilson put it through the roof. You forgot that bit!
@malthusXIII-fo3ep by 1974, the Heath govt had seeen a steadily rising rate of inflation. This continued under Wilson before he left it at a lower level than he found it. I think the reality of how political leaders impact inflation is complex, but his leadership did effectively see the country through an inflationary crisis.
@@therajaofashbourne8483 We never learn do we ....seven years after Wilson's devaluation and ''the pound in your pocket'' fiasco? He put rocket boosters under inflation.
Usual Labour incompetence and blind stupidity.