It goes back further than that, to the Falklands, and rightly so.
"We asked Mitterrand not to give assistance to the Argentinians. If you're asking me: 'Are the French duplicitous people?' the answer is: 'Of course they are, and they always have been.'"
it was the Conservatives fault that we needed an IMF bail out............it was James Callaghan that had to sort out the Tories destruction of the economy.
The origins of the crisis have been attributed to the 1972 Conservative "spend for growth" budget initiating the inflation cycle. James Callaghan's Labour government had to borrow $3.9 billion from the International Monetary Fund (IMF), with the intention of maintaining the value of sterling.
"Lamont added: “We would not want to give credence to the accusation that our Falkland Islands operation was motivated by a belief that there was oil to be found in Falklands waters, which would be quite untrue.”
What has oil to do with it, since we're stopping getting oil from the N. Sea (or may have already, I don't know offhand) because of the delusional net zero policy?