I am here to announce that I am officially increasing it rest rates to 12% and the 15%.
BRITAIN HAVE LEFT THE ERM!BUT THEIR FINANCIAL STATUS IS STILL IMPROVING.UNEMPLOYMENT REDUCING.HOUSING MARKET IS BETTER.
HEY, GEORGE. W. H. BUSH HERE!BY THE WAY WE ARE DOING GREAT, AND WILL TRADE WITH UK
- Norman Lamont announced an increase in the interest rates, to persuade foreign investors to buy the pound again. - The Bank of England spent huge amounts form its reserves in buying the pound.
BUSINESS ARE ON THE SIDE OF GOVERNMENT POLICIES
- The British economy after BLACK WEDNESDAY, began to improve Britain's economic stance. -Leaving the ERM prevented Britain from having high interest rates. This allowed exchange rates to float downwards.
WE WANT LABOUR IN
WE WANT MAJOR OUT
-America had come out of recession and world trade was expanding.-The UK was benefitting from financial deregulation. --The German market was struggling with huge costs, and had sluggish growth compared to the UK.
BLACK Wednesday Foreign Exchange speculators by and sell currency. If they sell the currency will fall in value.
-By 1997 most economic indicators were positive.-Unemployment was down- Productivity is going up.-Car ownership went up.-House prices rose.
-The long standing Tory electoral asset of being trusted, on the economy was thrown away.-John Major's personal authority was badly weakened.-Fiercely criticised by the newspapers that once loved him. (Labour shot up in the opinion polls).
-Black Wednesday Foreign Exchange, speculators buy and sell currency. -If they sell the currency will fall in value.-In Sept 1992 there was a wave of speculative selling of the pound on the financial markets.