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What was the main reason for the UK's economic problems during Wilson's first term as Prime Minister?

  • External balance of payments

  • High inflation

  • High unemployment

  • Excessive government spending

Answer

During Harold Wilson's first term as Prime Minister, the UK faced significant economic problems due to issues with its external balance of payments. Despite a period of low unemployment and relative economic prosperity, the balance of payments problem hindered the country's economic growth.
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