Monday, September 01, 2008

The Last Waltz For Brown & Darling?

It was 18 November 1967 when Harold Wilson devalued the £ by a little over 14% against the US dollar – he took it down to $2.40 to the £. This afternoon the exchange rate stands at a shade over $1.80 to the £; last week before the Darling Chancellor decided to go off message and start spouting off in a totally unsuitable way the rate was $1.84 to the £. So how much has his momentary lapse of reason cost the economy?

Back in November 1967 Engelbert Humperdinck’s The Last Waltz was riding high in the charts. You do have to wonder if both the Chancellor and the PM should consider doing just that…

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