A Long Time In Finance
1976: The Year Britain Went Bust
Published: 31 January 2025 at 07:05 UTC
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Episode notes
In 1976, the Labour government went "cap in hand" to the IMF for a loan to tide it through deteriorating economic conditions. The price was large cuts in public spending. Neil and Jonathan talk to economist and author Duncan Weldon about the "bailout", what caused it, the changes it brought, and whether there are any parallels to the predicament faced by Rachel Reeves.
Presented by Jonathan Ford and Neil Collins.
With Duncan Weldon.
Produced and edited by Nick Hilton for Podot.
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