Our hard-won stability means that — whereas in previous decades the UK economy suffered more than other economies in the face of global economic downturns — we enter this period of uncertainty, better placed than most other countries. From the 1970s until the early 1990s, the British economy suffered through the failure of successive governments to deliver economic stability. The reforms we have made since 1997 mean we can be confident about the inflation outlook. There will be no return to the 15 per cent interest or high inflation rates of the early 1990s.

Email this to a friend.
Previous item — Next item.