The Crunch Is Here

Lejeune, Anthony
December 1976
National Review;12/10/1976, Vol. 28 Issue 47, p1342
The article argues that the economic and financial crises in Great Britain in 1976 is rooted in overspending by a government dominated by Labor Party. Under the Labor Party's Left-leaning programs, the government is consistently pouring out more money than it receives from the productive sectors of the economy. As a result inflation is as twice as rapid as that of most other industrial countries. The government is also forced to borrow from the International Monetary Fund. The Conservative Party should also be blamed for this dire situation. Its economic laxity failed to stem the left-ward tide in politics.


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