10/3/81: UK Budget presented to Parliament

On Tuesday 10 March 1981 a new UK budget was presented to Parliament by teh Chancellor of the Exchequer Geoffrey Howe.

pic.: ssplprints.com
This was Howe's second budget and the second of the Thatcher leadership and was presented at a time of significant economic hardship in the UK. Inflation was running at 15% and manufacturing output was down by 9% over the previous year with unemployment up by one million. In budget measures, the price of a pint of beer went up 4p, spirits went up 60p, wine up 12p, and 20 cigarettes up 13p. Petrol duty went by by up a significant 20p per gallon.

Geoffrey Howe would become Thatcher's longest serving cambinet minister, resigning in November 1990, just three weeks before Thatcher's own resignation. He died in 2015.

sources: guardian, wikipedia.

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