It's easy to draw parallels with old Labour's predicament in the mid to late 70's and events that are transpiring now. Much is different but the echoes remain.Either way the events around the so-called 'winter of discontent' in Britain during 1978-79 are a matter of history and interpretation.In many ways the oil crisis of the early 70's along with a stagnating economy, rising inflation and an attempt to limit pay increases fuelled the growing number of strikes and large pay claims. As we enter a new challenging period as the spectre of rising inflation cast its shadow over a faltering British economy and talk again of limiting pay claims as prices rise and the credit crunch bites hard, it may be prudent to review how inflation ravaged Britain in the 70's.
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