Chancellor Rachel Reeves' economic troubles have been compared to those of her 1970s predecessor Denis Healey, who had to request a loan from the International Monetary Fund (IMF) in 1976. Back then, Britain was facing economic and industrial strife, with inflation reaching 25% in 1975 and the cost of living skyrocketing. The IMF agreed to a loan of $4 billion to stabilize the pound, but imposed strict spending cuts and credit controls. The inflation crisis of the 1970s was exacerbated by irresponsible economic policies and the OPEC oil price hike. Eventually, the IMF loan helped turn around the economy, but not before the Winter of Discontent in 1979. Today, concerns over the weakening pound and rising borrowing rates have raised alarm bells.