BBC Parliament presents an evening of archive programmes and specially
filmed interviews with the politicians, civil servants and commentators
involved in the 1967 devaluation of the pound this Sunday, 18th
November.
At 9.30pm on Saturday 18 November, 1967, Harold Wilson’s Labour
government devalued sterling by 14.3 per cent. It came as a great shock
to some and a relief to others, as the government’s three-year defence
of the pound finally collapsed and the power of sterling diminished – a
momentous occasion carefully underplayed by Harold Wilson in his famous
broadcast: "It does not mean that the pound here in Britain, in your
pocket, in your purse or bank, has been devalued."
Forty years later, The Pound In Your Pocket follows the story of the
ailing pound as it unfolded at the time. From a currency in crisis and
devaluation in November 1967 to the harsh budget – "stage three of
devaluation" – in March 1968, it was a time of economic uncertainty,
humiliation and great hardship for the country.
Archive programmes featured throughout the evening include: Twenty-Four
Hours with Cliff Michelmore; The Money Programme with William Davis and
Alan Watson; the "grand inquisitor" Robin Day in the Our Money special,
containing Harold Wilson’s infamous "pound in your pocket" address;
Panorama with an appearance by a young David Dimbleby; and highlights
from Budget ’68 – Ian Trethowan and the team examine Roy Jenkins’s
deflationary budget live as the Chancellor removed £923 million from
the economy.
Sunday 18 November, 6.00pm-12.00 midnight BBC PARLIAMENT
