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For Britain, 1976 has been a year of severe economic
crisis – one and a half million unemployed, domestic
inflation at 14 per cent, galloping devaluation, stagnant
industrial production and huge international loans to
cover the balance of payments deficit. The Government’s
strategy for recovery depends on continuing support from
the trade unions on wage restraint – support which might
not be given if unemployment rises and social services are
curtailed as a consequence of conditions imposed by the
International Monetary Fund for granting Britain a
new standby credit of 3.9 billion dollars.

Film: Rev – Sound: Mag/SOF – Colour– Available in HD

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19 Responses

  1. martel hinds says:

    Look how many were unemployed under Labour?

  2. martel hinds says:

    The Labour fcuked up the British economy and lost us money placing us in debt

  3. roger manvell says:

    It is interesting to note that 1976 was the peak of UK equality in terms of wealth distribution and coincidentally or not of happiness according to the survey of the New economics foundation.

  4. colin mindak says:

    but then you joint the eu….,and your special services pimped the world and the people of europe and its allies.

  5. tubularbill says:

    What a mess. No wonder the Tory’s via Thatcher won three terms (and Major a 4th).

  6. Truthseeker1515 says:

    Now that manufacturing accounts for less than 10% of UK GDP who cares about the cost of raw materials and importing inflation!

  7. Rahvis Chihuahuas says:

    Britain needed strong leadership, and it finally got it in the form of Margaret Thatcher. The necessity of facing down the unions was an impossible conundrum for the Labour politicians of the day.

  8. M K says:

    with headphones this drives you mad… mostly on the left and always out of phase.

  9. Moveitmag Cinezine says:

    similar problems with brexit today

  10. Roger Lane says:

    Britain had a distinct culture the whole world respected in the past. Nowadays we are 'multicultural'=no culture and a soft touch. No uniqueness and the UK could be any part of the third world. Why didn't I get a say in this country changing so radically and permanently in my lifetime? Britain's population is pretty much 'brown people' in our cities, many of them are probably harder working than many white people, but I didn't want this change and it is more important to me than economics and prosperity!

  11. sharon anderson says:

    the imf. globalization. but the united states caused a lot of this with the move to the petrol dollar and the rothchilds.

  12. MegaDarryl1 says:

    A mix of the reflation started under the tory heath government and the worldwide oil crisis…. If the tories had been re elected in 1974 they would have faced the same problems……

  13. The_Slayer says:

    With Healey in charge we had no hope. The biggest problem is that the government during the 60's, 70's had no power or strong leadership. Everything during those times seems to have been driven by the unions (who had never been voted into power), hence the big clash between government and unions in the early 80's.

  14. the critico alternative libertarian media says:

    and uk had oil and usa giving them imf paper imagine if they didnt

  15. the critico alternative libertarian media says:

    just like the world dumped the pound they will dump the dólar usa wont get up though nor uk, why 74? the petro dólar deal was made that year even so deppeg from gold dólar sink like a rock

  16. Godzilla52 says:

    This is what Jeremy Corbyn doesn't realize. If Labour wants to viable it's has to reject the failed socialist/social democratic economic policies of the past. Even the Callahgn government realized this after 1976 and gradually started neoliberal reforms. Blair and Brown had the right idea that Labour needed to utilize a Third Way approach, but they executed it poorly. Going foward, Labour should follow the example of the Bob Hawke Government in Australia, the Jean Chretien government in Canada, or what Emanuel Macron is trying to do in France (which isn't much different economically to what Thatcher did in the UK during hi tenure).

  17. Voted Leave says:

    Corbyn's dream.

  18. Nathan Jones says:

    This is what socialism does, destroys a country.

  19. European Qoheleth says:

    What grim times they were. And to think people get nostalgic for the 1970's.

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