In Office

Norman Lamont was Chancellor of the Exchequer in John Major's government during one of the stormiest and most momentous periods in the UK's economic history, which encompassed both Britain's withdrawal from the Exchange Rate Mechanism and the recession of 1990-93. In this frank memoir of his time at the Treasury, he describes what it was like to live through this period day by day; its pressures and its moments of high drama and high farce. He recounts the events leading up to Black Wednesday - when the Bank of England lost billions unsuccessfully defending the pound - and reveals for the first time the full story of what happened that day.