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Denis Healey with Labour budget box 1978
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Denis Healey with Labour budget box 1978
Denis Healey, with his Budget Box, when he was Labour Party Chancellor of the Exchequer. Date: 1978
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Media ID 14102227
© Mary Evans Picture Library
1978 Budget Chancellor Denis Exchequer Finance Healey Labour Budgets
EDITORS COMMENTS
In this evocative photograph, Denis Healey, a towering figure in British politics during the 1970s, is seen holding the iconic "Budget Box" as he presents the Labour Party's annual budget to the House of Commons on March 8, 1978. Healey, who served as Chancellor of the Exchequer under Prime Minister James Callaghan, was known for his sharp wit and no-nonsense approach to economic matters. The Budget Box, a large, ornate wooden case adorned with gold embellishments, was a symbol of the Chancellor's authority and traditionally contained the budget documents that were presented to the House of Commons. Healey's budgets were characterized by his efforts to tackle inflation, which was then running at over 15%, and to restore economic stability after years of Labour's "stop-go" economic policies. The photograph captures the intensity and drama of the budget presentation, with Healey's stern expression and the packed House of Commons chamber providing a backdrop to the momentous occasion. The image is a testament to the importance of the budget process in British politics and the role of the Chancellor as the guardian of the nation's finances. The photograph also serves as a reminder of the economic challenges faced by the Labour Party during the 1970s and the efforts made by Healey and his colleagues to address them. The budget presented in this photograph was one of several during Healey's tenure as Chancellor, and it marked a crucial period in the party's history as it sought to regain the trust of the electorate and restore economic stability to the country. Overall, this photograph is a fascinating snapshot of British political history and a reminder of the enduring importance of the budget process in shaping the economic fortunes of the nation.
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