10 October, 1991: the Chancellor of the Exchequer tells the Conservative Party conference that Britain is on its way out of the recession:
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.'The green shoots of economic spring are appearing once again. The fruits of our policies are beginning to appear. . . . Soon I will be the first Chancellor in nearly a quarter of a century who will be able to stand before you and say that Britain has lower inflation than Germany.
'. . . The turn of the tide is sometimes difficult to discern. But it's clear that Britain is coming out of recession . . . that isn't just my opinion. It's the verdict of the International Monetary Fund and the Confederation of British Industry, the Institute of Directors and numerous surveys of businessmen and consumers up and down the country. What we are seeing is the return of that vital ingredient: confidence.
'We are beating inflation now. Let's move on and beat unemployment too - not just for now, but permanently. For a country of low inflation is a country of low unemployment. . . . We've kept the pound strong and cut interest rates eight times while in Germany they have been rising.'
31 July, 1992: The value of the pound slipped temporarily below the bottom of its permitted trading band within the European exchange rate mechanism, prompting fears of a devaluation.
Robert Liddell, aged 83, novelist and critic.
Alexander McKee, aged 74, discoverer of the Mary Rose
Mary Wells, aged 49, singer (of 'My Guy').
Lord Cheshire, war hero and founder of the Cheshire homes for the disabled.
2 August, 1100: King William II killed in the New Forest while hunting.
1776: First signatures on the US Declaration of Independence.
1784: First specially constructed Royal Mail coach ran, from Bristol to London.
1876: 'Wild Bill' Hickok shot dead at a poker table in Deadwood, South Dakota.
1970: British Army fired rubber bullets for the first time, in Belfast.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments