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...

This book, originally published in 1983, examines how effectively in Britain central government is equipped to secure efficiency and responsiveness and argues that as a result of shifts in the balance of power between the executive arm of government in Whitehall and the legislature in Parliament, the British system of government is neither as efficient, nor as responsive to popular will, as a strong democracy requires.