United Kingdom: Economic Crisis

Record ID: 1328

  • Title: United Kingdom: Economic Crisis
  • Date: 20th May 1966
  • Summary: 1964/1970In July, emergency measures were taken to bring the economy into balance. The Bank rate was raised to seven per cent and a six-month freeze was imposed on incomes and prices. New taxes and credit restrictions were announced. The object was to reduce demand at home and encourage workers to move to exporting industries. With rows of cars unsold, through restrictions and strikes, motor firms in particular began to lay off workers. Altogether, by November, Britain had over half a million unemployed. Workers threatened with redundancy made their feelings clear to the Prime Minister in demonstrations outside the hall where the Labour Party held its annual conference.
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  • Location: UK ENGLAND LONDON
  • Reuters ID: LDL00109U1WJV
  • Aspect Ratio: 4:3
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  • Copyright Holder: Reuters Archive
  • Copyright Notice: (c) Copyright Thomson Reuters 2014. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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