Britain’s growth
Sir, —D. P. K. Rennick quotes various figures in support of his claim that Mrs Thatcher is an excellent manager of the British economy. However, a former head of New Zealand’s Institute of Economic Research (which usually makes more accurate economic predictions than does the Treasury) on arriving in New Zealand quoted Britain as an example of a country where monetarist policies have failed. The first 18 months of Thatcher administration had a devastating effect on British industry. By early 1985 it had only recovered half the output it had lost, and total industrial production in Britain was still less than it had been 10 years earlier. The situation in other sectors may have been different, because of the European Community’s Common Agricultural Policy.—Yours, etc., JOHN RING. December 4, 1987.
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Press, 8 December 1987, Page 16
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132Britain’s growth Press, 8 December 1987, Page 16
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