User:Chrisdavid1981/The Attack on Inflation
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The Attack on Inflation The Attack on Inflation is a White Paper that was published by the Government of the United Kingdom in July 1975, proposing measures to counter inflation. [1]
The paper proposed introducing a universal limit on pay increases of £6 per week, starting on 1 August 1975. [2] It stated that: "This is a plan to save our country. If we do not, over the next 12 months, achieve a drastic reduction in the present disastrous rate of inflation... the British people will be engulfed in a general economic catastrophe of incalculable proportions" [3]
The Glasgow Herald reported that the Harold Wilson had told Parliament that the measures would be supported by a majority of the public. [4] The historian William Rubinstein states that the measure "was generally accepted by unions, and had an effect in limiting inflation." [5]
In June 1976, a further White Paper, The Attack on Inflation: the Second Year proposed a five per cent pay limit. [6]
References[edit]
- ^ The National Archives
- ^ Rubenstein, W.D. Twentieth-century Britain: a political history, Palgrave Macmillan, 2003, p. 310
- ^ "Government's Attack on Inflation Is Cautiously Welcomed By British". The Toledo Blade, Ohio, July 12 1975
- ^ "'Tidal wave' of public support for wage rules". The Glasgow Herald, Glasgow, July 22 1975
- ^ Rubenstein, W.D. Twentieth-century Britain: a political history, Palgrave Macmillan, 2003, p. 310
- ^ The National Archives
External links[edit]