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Immediately the pound came under enormous pressure, and many economists advocated devaluation of the pound in response, but Wilson resisted, reportedly in part out of concern that Labour, which had previously devalued sterling in 1949, would become tagged as "the party of devaluation"

Announced last October in chancellor of the exchequer Rishi Sunak's budget, the most expensive packets of cigarettes have increased in price by 88p, from 12.73 to 13.60

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