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Devaluation Hasn’t Hurt British Much
The pound’s fall from $2.90 to $2.40 did not shock Britain. Prices rose 5 to 6 percent, unemployment held at 2.5 percent, exports rose 17 percent led by autos, while imports stayed high. Public mood shifted to favor less welfare spending and more consumer freedom amid a stabilizing economy under Prime Minister Harold Wilson.
MENTIONED IN THIS ARTICLE
Spain
Britain
The
Sunday Observer
Jenkins
Harold Wilson