Orders of the Day — International Monetary Arrangements Bill

Part of the debate – in the House of Commons at 6:27 pm on 11th July 1983.

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Photo of Mr Geoffrey Rippon Mr Geoffrey Rippon , Hexham 6:27 pm, 11th July 1983

The problem did not start in 1979. It started when the Labour Government adopted the monetarist policy and raised interest rates to 16 per cent. That was the time when the right hon. Member for Down, South (Mr. Powell) made a significant speech to the junior chamber of commerce at Bangor.