Britain was rescued and stepped back from the brink. But it was a close-run thing. Had it been up to Tony Benn, closest in political philosophy to the current Labour leadership, Britain would have gone over the edge.
Benn, the energy secretary, wrote a paper, The Real Choices Facing the Cabinet, proposing an alternative economic strategy including large-scale intervention in industry, import controls and lower interest rates. Britain would have become a command economy. Fortunately, the cabinet rejected it.
Import deposits until those are in place.
Capital Issues Committee – this is government control of investment.
Lower interest rates.
More to the NEB – more planning of investment again, national investment bank sorta stuff.
One of the joys of His Tuberosity is that he wouldn’t even realise, let alone know, that his plans are Bennite.