‘Just hysteria’: UK faces a crisis but the Denis Healey comparison is overblown
Whatever the right-wing press may say, most economists agree that Rachel Reeves isn’t heading towards an IMF bailoutBusiness live – latest updatesInternational confidence in the UK government’s economic policies had evaporated. Growth was stalling, inflation was galloping, and Labour – back...
<p>Whatever the right-wing press may say, most economists agree that Rachel Reeves isn’t heading towards an IMF bailout</p><ul><li><p><a href="https://www.theguardian.com/business/live/2025/aug/29/uk-business-confidence-rises-economy-fears-stock-market-bonds-inflation-business-live-news-updates">Business live – latest updates</a></p></li></ul><p>International 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 <a href="https://www.theguardian.com/uk-news/2022/sep/23/a-look-back-to-1972-the-last-time-tax-cuts-so-big-were-brought-in">gambled on tax cuts</a> – was in deep trouble.</p><p>It was 1976, when James Callaghan’s government was forced to go cap in hand to the <a href="https://www.theguardian.com/business/imf">International Monetary Fund</a> for an emergency loan. Fast forward almost half a century and some economists are drawing obvious parallels.</p> <a href="https://www.theguardian.com/politics/2025/aug/29/uk-crisis-denis-healey-comparison-rachel-reeves">Continue reading...</a>
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