There is a lot of talk about the impact of inflation on spending everywhere at present. This is a problem, however, if I recall early 1979 during the run up to the General Election which saw Labour and Mr Jim Callaghan replaced by the Conservatives and Mrs Margaret Thatcher, inflation was running at between 13 and 14%. I thought it was higher, I do recall Labour offering a 24% pay rise for HM Forces during the election run up.
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