Complex sentence: On 14 July, the bank rate was increased again to seven percent, and on 20 July Callaghan announced a ten point emergency package to deal with the crisis which included further tax rises and a six month freeze on wage increases.
Split into simpler sentences: On 14 July, the bank rate was increased again to seven percent. On 20th July Callaghan announced a ten point emergency package to deal with the crisis which included further tax rises and a six month freeze on wage increases.