Reversing the protectionism of the 18th century and the war years was an important element in the increasing prosperity of the 1820s and thereafter.
Towards the end of Lord Liverpool’s tenure in December 1825, a financial crisis occurred.
He proposed a set of banking reforms, which were enacted quickly in 1826; the post-crash recession lifted by that autumn.
Lord Liverpool understood how the economy worked, as few prime ministers have, before or since.
Martin Hutchinson is the author of Britain’s Greatest Prime Minister: Lord Liverpool