Abstract
In 1958, in welcome contrast to the three preceding years, most aspects of monetary policy went more or less according to plan. It did not begin that way, however. On 6th January, the Chancellor, Thorneycroft, and the other two Treasury ministers resigned over the Cabinet’s refusal to cut public expenditure by as much as they wanted. As Chapter 10 noted, it seems unlikely that frustration over monetary policy was a contributory factor, despite Green’s arguments (2000). Thorneycroft was succeeded by Derick Heathcoat Amory.
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© 2014 William A. Allen
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Allen, W.A. (2014). 1958: The Sunny Uplands. In: Monetary Policy and Financial Repression in Britain, 1951–59. Palgrave Studies in Economic History Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137383822_11
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DOI: https://doi.org/10.1057/9781137383822_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-48068-5
Online ISBN: 978-1-137-38382-2
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