Gaitskellism
Wilson went on to become Prime Minister in the 1964 election, holding the position from 1964 to 1970 and from 1974 to 1976. Despite being a former Bevanite, Wilson largely followed Gaitskellite economic policies, and the former Gaitskellite Callaghan followed Wilson as Prime Minister from 1976 to 1979 and Party Leader from 1976 to 1980.
Labour Party (UK)
Harold Wilson's personal popularity remained reasonably high but he unexpectedly resigned as Prime Minister in 1976 citing health reasons, and was replaced by James Callaghan. The Wilson and Callaghan governments of the 1970s tried to control inflation (which reached 23.7% in 1975) by a policy of wage restraint. This was fairly successful, reducing inflation to 7.4% by 1978. However it led to increasingly strained relations between the government and the trade unions.