Stuk 65 - "A U-turn? Absolute nonsense! That's a perfectly normal trajectory!"

1 cartoon

A Geoffrey 'Howetzer' fires 'Interest Rates', with 'Industry' clinging on, into the 'I.O.U. sphere', with 'Export Markets' in the distance. Keith Joseph stands by. However, an outline of its trajectory shows a steep fall back to Earth - Thatcher is denying that this represents a U-turn.

Context: Howe's budget was expected to mark a significant increase in taxation, and thus deflation. This shocked many Tory MPs and even ministers, at a time of a retracting economy and increasing unemployment.