<p>The anniversary of Norman Lamont’s failure is a timely reminder to Labour not to have its fiscal agenda set by the opposition</p><p>Monday will be the 32nd anniversary of <a href="https://www.theguardian.com/business/2012/sep/13/black-wednesday-20-years-pound-erm">Black Wednesday</a>. For younger readers, and older ones with ailing memories, Black Wednesday, on 16 September 1992, was the day the Tories lost their reputation for economic competence.</p><p>True, they had lost it once before, when the Heath government of 1970-74 fell victim to the inflationary impact of the 1973-74 oil crisis, their economic boom that got out of control, and what became known as the disaster of the three-day week.</p> <a href="https://www.theguardian.com/business/2024/sep/15/tory-economic-competence-led-britain-to-black-wednesday-never-forget">Continue reading...</a>