‘Just hysteria’: UK faces a crisis but the Denis Healey comparison is overblown

‘Just hysteria’: UK faces a crisis but the Denis Healey comparison is overblown

Despite sluggish growth and rising borrowing costs, most economists agree that Rachel Reeves doesn’t face a repeat of 1976 Business live – latest updatesInternational confidence in the UK government’s economic policies had evaporated. Growth was stalling, inflation was galloping, and Labour – back in power after a reckless Conservative administration had gambled on tax cuts – was in deep trouble.It was 1976, when James Callaghan’s government was…