Overview

This book provides the first comprehensive and authoritative account of the events leading up to the UK seeking a massive loan from the IMF in 1976 which almost precipitated a financial crisis on a par with those of the 1930's and early post war period. Sir Douglas Wass, who was permanent Secretary to the Treasury at the time, provides a unique first hand account of the events that took place as the crisis unfolded and the decision-making process. Bringing unrivalled experience and knowledge of Whitehall to the narrative, he draws on recently released documents such as official Treasury minutes, memoranda, official statements and reports, IMF documents and blends them with his own assessment of this key period of policy making to provide a fascinating, blow-by-blow account of how the Treasury reacted when faced with a series of inter-locking crises. Decline to Fall will be a must read for anyone interested in the formulation of policy and the workings of government.

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9780199534746

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Reviews

...this volume breaks new ground...exceptionally detailed account as to how economic policy developed between 1974 and 1976...a number of aspects of Wass's account are significant and surprising... Mark Wickham-Jones, Times Literary Supplement the definitive inside account of the crisis of the mid-1970s ... by no less an authority than Sir Douglas Wass, Permanent Secretary to the Treasury under Denis Healey's chancellorship. William Keegan, The Observer What distinguishes this book from many memoirs and diaries of the period, is its reliance on official documents rather than independently unverifiable comment...essential reading for poitical scientists, economists and economic historians...This lucid and scholarly account will also be a first port of call for future scholars of the period. Public Service Magazine

...this volume breaks new ground...exceptionally detailed account as to how economic policy developed between 1974 and 1976...a number of aspects of Wass's account are significant and surprising... Mark Wickham-Jones, Times Literary Supplement the definitive inside account of the crisis of the mid-1970s ... by no less an authority than Sir Douglas Wass, Permanent Secretary to the Treasury under Denis Healey's chancellorship. William Keegan, The Observer What distinguishes this book from many memoirs and diaries of the period, is its reliance on official documents rather than independently unverifiable comment...essential reading for poitical scientists, economists and economic historians...This lucid and scholarly account will also be a first port of call for future scholars of the period. Public Service Magazine

Author Information

Sir Douglas Wass spent the main working part of his life as a senior civil servant in the Treasury, which he joined in 1946 after War service. His experience ranged over all aspects of the Treasury and he represented the UK in both the International Monetary Fund and the World Bank. He was the Private Secretary to two Chancellors and to the Chief Secretary. In 1981 he was appointed Joint Head of the Civil Service. After retirement he gave the Reith Lectures on how the system of representative government works in the UK.

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