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Unions Challenge British Austerity Plan in 1960s Crisis
London reports show Britons brace under austerity as Harold Wilson unveils a plan to curb spending by 2 billion dollars, raise sales taxes, tighten credit, and freeze wage and price increases. Labour leaders like Frank Cousins oppose the wage freeze, while the pound rebounds on the announcement despite fears of devaluation. The policy centers on boosting export production to fix chronic foreign exchange deficits and reduce government outlays abroad.
MENTIONED IN THIS ARTICLE
London
Harold Wilson
Europe
Suez
Wilson
George Brown
Frank Cousins
Transport and General Workers Union
Britain
National Prices and Incomes Board