It was also later recognised as a mistake because it added an inflationary boost just as the Oil Shock triggered even higher inflation. A better solution would

It was also later recognised as a mistake because it added an inflationary boost just as the Oil Shock triggered even higher inflation. A better solution would have been to contine to allow inflation to "decimalise" the currency. Lower value coins (e.g the farthing "quarter penny" a few years earlier) were being removed. When it came time to withdraw the old penny it would have left the thruppence (3 pence) as the smallest coin, worth a quarter of a shilling. Replace that coin with a new penny worth a fifth of a shilling and decimalisation has occurred naturally.