The pound in your pocket

Issue 65 | 6 November 2020

It does not mean that the pound here in Britain, in your pocket or purse or in your bank, has been devalued.

Almost 50 years ago (November 1967) the then Prime Minister, Harold Wilson, was facing a crisis and was defending his decision to devalue the pound saying it will tackle the "root cause" of Britain's economic problems.

The government announced that…