Margaret Hilda Thatcher18 June 1980
The British annual inflation rate stands at 21%, the first fall in two years
Great Britain · Government / Conservative Party Government. Chronological records rendered directly from the World History Database.
The British annual inflation rate stands at 21%, the first fall in two years
Sees inflation begin to fall after reaching very high levels.
Pensions and social security will increase by 1% less than inflation
Inflation reaches a low point of 3.7%
Points to lowest inflation since 1968 & record productivity
Raises personal income tax allowances well above inflation
Critics of Lawson say that a combination of the abandonment of monetarism, the adoption of a de facto exchange-rate target of 3 deutschmarks to the pound (ruling out interest-rate rises), and fiscal laxity unleash an inflationary spiral
Abolishes all higher rates of tax apart from the 40 per cent rate, and increased the main income tax personal allowances by double the rate of inflation
With UK inflation at three times the rate of Germany's, interest rates at 15% and the "Lawson Boom" about to bust, the conditions for joining the European Exchange Rate Mechanism (ERM) were not favourable at that time
Inflation rises to 10.9%
Inflation rose to 5 per cent in 1998, and to 8 per cent in 1989 and 10 per cent in 1990
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