| It ranks as one of the most disingenuous claims ever made by a modern British politician. Buffeted by a balance of payments crisis, Britain was forced in 1967 to devalue the pound by nearly 15 percent against the dollar, prompting the then-prime minister, Harold Wilson, to try to reassure a skeptical public that it "does not mean that the pound here in Britain, in your pocket or purse, or in your bank, has been devalued."
Britons soon found otherwise, as living standards were hit and prices skyrocketed because much of what consumers bought, including a bulk of their food, was imported.......................................Full Article: Source
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