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The Guardian - UK
The Guardian - UK
National
Larry Elliott Economics editor

From Elizabeth II to Charles III: how the UK economy has changed

A  London street party in 1953 celebrating the coronation of Queen Elizabeth II.
A London street party in 1953 celebrating the coronation of Queen Elizabeth II. Photograph: Paul Springett A/Alamy

Double-digit inflation prompted by a regional war. Essential goods in short supply in the shops. Shortages of workers. In some respects the economy when Charles III is crowned king this week has distinct echoes of his mother’s coronation 70 years ago.

In other respects, Britain is an entirely different place. In 1953, the retreat from empire was under way, the welfare state was in its infancy and membership of the European Economic Community was two decades away.

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