Читать книгу Foreign Exchange: The Complete Deal - James McDowell. Sharpe - Страница 17

By the 1960s the deterioration in the UK’s competitive position was becoming increasingly evident. This was partly a legacy of the war and partly due to an economy heavily dependent on trade, but it was also caused by an inability to change working practices and restructure industry to the new world order.

In 1964 the Labour Prime Minister Harold Wilson made the famous declaration that he would defend the sterling parity as established at Bretton Woods at $2.80. The inevitable revaluation away from $2.80 was stalled by various support packages but by 1967 (18 November) it was finally recognised that sterling was fundamentally overvalued and that the economy could not support the rate and so a devaluation of 14.3% was arranged. This reduced the parity rate from $2.80 to $2.40.