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Varne Economic Conditions
Economic Conditions for Yacht Production 1970 - 2000
Inflation and Exchange Rates in the 1970s
By the mid 1970s in the UK, the cost of goods (including, of course, materials used to make boats) had doubled. Simultaneously, the value of the British Pound had halved against many European Currencies; dire conditions for exporting manufacturers, including Varne Marine who had strong demand from Holland and Scandinavia.
The lowest exchange rates were around the time of the IMF crisis in September, when a cash injection was given as a loan to prop up the value of the pound. The following Winter of Discontent 1978/79 didn't help matters
The table below shows GBP Exchange rates in Varne's European Markets
This table shows the massive inflationary pressure which manufacturers were under.