A Consensus Retained - A story of British politics

Hunter W.

Banned
The 1974 general election revealed deep divisions within British society. Edward Health, the incumbent Prime Minister fought the election under the mantle of "Who rules Britain?", in reference to the continuous unrelenting demands of the increasingly militant trade unions. The first of that years elections, failed to result in an absolute majority for the governing Labour Party.

With the minority situation weighing heavily on his mind, he decided it was prudent to hold a second to facilitate his tedious position. Once more humiliating his opponent, whose abrasive and awkward style commanded little confidence, regardless of his admirable record. And was thereafter promptly removed by Margaret Thatcher.

However, upon his return many perceived the United Kingdom and slid off the rails, inflation began its steady increase, unemployment continued its silent creep upwards in excess of 1,000,000, along with the escalating violence in Northern Ireland.

Wage controls, along with handsome welfare incentives still failed to contain the genie that was well out of the bottle, inflation eventually reached 20%. This was further complicated by the strain on the British Pound as speculators feared the government had lost control of its ability to control inflation. Haunted by the devaluation crisis of 1968, Wilson refused to permit what many considered an economic sin. As the year 1975 closed, the clouds of economic ailment began to gather. Also happening this year, the United Kingdom remained within the European Economic Community.

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Wilson, with his recognizable pipe.
By March many investors were convinced inflation would erode the value of the pound and thus precipitating crisis. The Bank of England temporarily withdrew from the Exchange Rate. Denis Healey then approached the IMF about the possibility of loans to maintain stability. This was agreed, but with a clause. Spending had to be slashed to meet their demands. He presented his case to the cabinet, Wilson, concerned about the psychological effect was less persuadable than Healey had hoped, other members such as Callaghan, David Owen, and Shirley Williams were more tolerant. After conferring with other advisers, Wilson agreed to limited cuts. This enraged the "Hard-left" of the Labour Party, and in paticular, the Socialist maverick, Tony Benn. The opposition utilized the discontent, openly criticizing the government for it's decision.

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Thatcher during an interview, 1976.
As the economy continued to slide the Labour Party was in the midst of a serious schism. The left jeered at Denis Healey and he jeered back, at one point during a vicious argument in the Commons he shouted down his own colleagues, "You are out of your tiny Chinese minds". And when asked about the affair replied, "We have a boisterous relationship in the Labour Party".

However, it didn't matter if they we're strong faced. The economy was still on the skids, unemployment rising and inflation stagnant.
 
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And was thereafter promptly removed by the firebrand, Margaret Thatcher.

OTL, Thatcher wasn't in anyway a firebrand in the 1970s. In addition, her succession to take over from Heath was more the result of political manoeuvres by others in the Tory party.
 
You might want to go back and check over the update as you sometimes spell Healey's name as 'Dennis' rather than the correct 'Denis'.

OTL, Thatcher wasn't in anyway a firebrand in the 1970s. In addition, her succession to take over from Heath was more the result of political manoeuvres by others in the Tory party.
Whilst it has been used to refer to Thatcher in 1975, often due to historians misplacing her slightly later reputation (one she was very careful not to nurture in the media), I agree that it's anachronistic in a minor way.
 
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