Treasury, Domestic Economy Sector, Home Finance Group, 1975-1984
Open unless otherwise stated
Immediate source of acquisition:
From 2013 Treasury
Selection and destruction information:
Records selected under the appraisal / selection criteria theme 3.1.4 'the regulation and support of the UK economic activity by government'.
Series is accruing.
Administrative / biographical background:
The Monetary Policy Division was created in 1981 and formed part of the Home Finance Group and thereunder the Domestic Economy Sector of HM Treasury.
Monetarist policy promotes the idea that close control of the money supply is crucial to reducing inflation. The previous Labour administration had already started to experiment with monetary targets as early as 1976 in the form of a range of permissible growth in the money supply. Monetarist policy from 1979 was more formally applied to restrict the growth of the money supply within the UK with the objective of reducing inflation.
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