SATUR­DAY ES­SAY

Yorkshire Post - - FEATURES & COMMENT -

the pound came un­der tremen­dous pres­sure. Ma­jor gath­ered his se­nior min­is­ters in Ad­mi­ralty House on the morn­ing of Septem­ber 16 – Down­ing Street was be­ing re­paired at the time fol­low­ing an IRA mor­tar at­tack.

Each time Min­is­ters agreed to a hike in in­ter­est rates the pound failed to rally, forc­ing the Chan­cel­lor of the Ex­che­quer Nor­man La­mont to sus­pend Bri­tain’s mem­ber­ship.

The short-term po­lit­i­cal dam­age was ev­i­dent in the House of Com­mons a few days later when John Smith, the Leader of the Op­po­si­tion, de­scribed Ma­jor as ‘the de­val­ued Prime Min­is­ter of a de­val­ued Gov­ern­ment’.

Ma­jor se­cretly wanted to re­sign, but his se­nior col­leagues talked him out of it. Mean­while, Nor­man La­mont sur­vived as Chan­cel­lor for an­other

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