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

From rationing to taxes, house prices to health – the differences and similarities between the Britains of 1953 and 2023

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.