sentences:  The fiscal and monetary squeeze, combined with the North Sea oil effect, appreciated the real exchange rate.These moves hit businesses—especially the manufacturing sector—and unemployment exceeded 2 million by the autumn of 1980, up from 1.5 million at the time of Thatcher's election just over a year earlier.Political commentators harked back to the Heath government's "U-turn" and speculated that Thatcher would follow suit, but she repudiated this approach at the 1980 Conservative Party conference, telling the party