Monetarism in London
In May 1979 when Mrs Thatcher came to power, there were 132,000 people unemployed in Greater London. [*] This report was submitted, on behalf of the Labour Group, to the Greater London Council on 12 October 1982 and is reprinted from the Council Agenda. An appendix on redundancies has been deleted. In September 1982 there were 390,107. This amounts to a trebling of those without a job. For London as a whole, when allowance is made for unregistered women and for commuters, approximately one-eighth of London’s workforce is now unemployed. In Inner London, the figure is one in six; in Stepney it is one in three. These figures amount to nothing less than an economic scandal.
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