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The National Board for Prices and Incomes was created by the government of Harold Wilson in 1965 in an attempt to solve the problem of inflation in the British economy by managing wages and prices. The board's chairman was Aubrey Jones , formerly a Conservative MP, who resigned his seat to take the position. [ 1 ]
The Prices and Incomes Act 1966 (c. 33) was a United Kingdom act of Parliament, affecting UK labour law, regarding wage levels and price policies.It allowed the government to begin a process to scrutinise rising levels of wages (at around 8 per cent per annum at that time) by initiating reports, and inquiries, and ultimately giving orders for a standstill.
A convention frequently used in retail pricing was to list prices over one pound all in shillings, rather than in pounds and shillings; for example, £4-18-0 would be written as 98/– (£4.90 in decimal currency). This is still seen in shilling categories of Scottish beer, such as 90/– beer.
The 1967 sterling devaluation (or 1967 sterling crisis) was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 general election, [1] but originated in the balance of payments crises of the preceding Conservative government.
The pound (sign: £, £A [1] for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol s or /– ), each of 12 pence (denoted by the symbol d ).
Price Per Pound of Aluminum. State. Price Per Pound of Aluminum. Alabama. $0.49. Alaska. $0.23. Arizona. $0.40. ... The value of a single tin can would calculate as a fraction of a cent as a result.
[189] [190] In 1966, tall flats accounted 25.6% of all approved starts, compared with only 3% in 1954. [191] From 1964 to 1966, the percentage of homes built in England and Wales by local authorities and New Towns in the form of flats in buildings of 5 storeys or more rose from 22.4% to 25.7%, falling to 9.9% in 1970. [192]
The pound is the main unit of sterling, [4] [c] and the word pound is also used to refer to the British currency generally, [7] often qualified in international contexts as the British pound or the pound sterling. [4] Sterling is the world's oldest currency in continuous use since its inception. [8]