A Labour government facing a surging budget deficit, inflation on the rise, and a crisis of confidence in the UK economy. Expecting higher interest rates, investors refused to buy more government bonds, precipitating a crisis, Sterling plunged and the UK was heading towards a full blown meltdown. Cap in hand the chancellor had to go to the IMF asking for the then largest ever IMF bailout.
0:00 Intro
1:15 Differences with 1976
2:25 IMF Bailout
3:01 What Went Wrong?
4:07 Failed Forecasts
5:31 2025 Crisis
8:50 Future Problems
Credit to : Economics Help