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To read more This was in October, when the recession caused sterling to fall. But he feels that the pound now reflects post-recession levels, and there is no reason for prices to fall further. He also estimated that the UK recession might end and that sterling could rise. His data have also shown that the price drop has stopped, and he sees it as a signal that price increases will begin. So he decided to buy the pound. In the late 19th and early 20th century, with the transition from free capitalism to monopoly capitalism, the factory itself had undergone complex and profound changes. Constantly adopt new technology to make the production rapid development; The scale of production keeps expanding, competition intensifies, and a large-scale monopoly enterprise is produced. The separation of rights and ownership and the formation of a professional management stratum; The scientific management system has been established, and a series of scientific management theories have been formed to make the enterprises mature and become modern enterprises. Philip Hammond has been trying to persuade conservatives that tax increases and spending cuts are needed to reduce the deficit.