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Back in the day: June 1975

Back in the day: June 1975

Today marks 40 years since the last time the UK voted to remain a member of the European Economic Community (EEC), which later evolved into the EU. The June 1975 issue of Money Management contains advertisements from various investment companies encouraging voters to remain with Europe – including one from M&G stating “yes to Europe”.

The feature on the cover looks at whether or not the average British life is over or under insured, and if life insurance companies and brokers are conspicuously good at helping people to plan their insurance needs. Considerations surrounding which policy is best suited to the client all revolve around what would be best for the wife and children, and whether or not the wife has any “earning potential” should the husband die.

The issue goes on to discuss group permanent health insurance and whether it is an attractive fringe benefit for employees. The feature said, “But insurers have a schizophrenic attitude to this form of cover. On the one hand they are anxious to please – mainly to support valuable pension contacts. On the other they fear that competition has made it unprofitable.”

Article continues after advert

Property investments are also examined in the issue. The reporter emphasises that the best investments are all about location, with the south-east of England out-performing most other areas in the British Isles due to its proximity to Europe and to London. The feature discourages investment in industrial building, citing shorter life and relatively specialised nature as reasons to stay away.

In other news…

Harold Wilson, then in his second term as Prime Minister, faced a similar situation that David Cameron faces today. Having renegotiated the UK’s terms of membership in the EEC, the remainder of the government was divided over the European issue.

The referendum resulted in a two-to-one victory for Britain to remain in the EEC, which since that time has grown from nine to 28 member nations, and has expanded to a single market and currency.

The top single was I’m Not In Love by 10CC, and the top film was Jaws.

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