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Monetarism in London
In May 1979 when Mrs Thatcher came to power, there were 132,000 people unemployed in Greater London. [*] 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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