Panic Unleashed As Engine Maker Goes to the Wall in Dark Days City Will Never Forget ; As the Economy Strives to Emerge From the Longest Period of Recession Since Records Began in the 1950s, Oliver Astley Speaks to Those Who Have Made It Through Tough Times.

Summary

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WAR debts, oil crises, failed monetary policy, the exchange rate mechanism and popped property bubbles have all put the brakes on the national economy since the 1940s.

Every decade throws up its own recession with its own particular brand of economic woe - rationing, sky-high inflation, mountainous interest rates, unemployment or the mire of negative equity.

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Extract

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Panic Unleashed As Engine Maker Goes to the Wall in Dark Days City Will Never Forget ; As the Economy Strives to Emerge From the Longest Period of Recession Since Records Began in the 1950s, Oliver Astley Speaks to Those Who Have Made It Through Tough Times.

Though Derby has not escaped completely unscathed from any downturn in the national or global economy, it is our own mini- recession that sticks in the memories of people in the local business community.

When Rolls-Royce went into administration in February, 1971, it unleashed panic in Derby and coun...

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