Flashcards
British Economy, 1974 - 1979 (Harold Wilson, LP)
Cards in this deck (32)
- 1British Economy, 1974 - 1979Harold Wilson, LP
- 2Due to the events of the Yom Kippur War, to what value did the Balance of Payments rise to?£1 billion
- 3What did the annual inflation rate rise to?16%
- 4What did the value of Sterling drop to?$1.57
- 5How high was the rate of interest increased to?15%
(the highest budget deficiency in British history) - 6What was the state of unemployment between 1974 and 1976?Doubled to 1.44 million
- 7When did the Yom Kippur War break out?October, 1973
- 8Between which two nations was the Yom Kippur War fought between? How was Britain involved with the conflict?Arab members of O.P.E.C had already experienced a long-running conflict with Israel.
Britain, alongside other Western powers, supported Israel. The Arab members retaliated by strictly limiting oil supplies to the Western world. - 9In the October 1974 General Election, how many seats had the Labour Party gained?18 seats
- 10In the October 1974 General Election, how many seats had the Conservative Party lost?21 seats
- 11In the October 1974 General Election, what was the overall majority of the Labour Party?3 seats
(despite having 42 more seats) - 12Whilst in Opposition, what did Wilson negotiate in 1973 to placate with the Trade Union Congress?The Social Contract
- 13What positions were Tony Benn and Michael Foot appointed?Head of the Department of Industry
and
Head of the Department of Employment - 14When did Denis Healey, as Chancellor, propose his two new budgets?March, 1975
and
July, 1975 - 15What did Denis Healey's speech in Leeds (January 1975) concern warnings of?Wage inflation promoting rises in unemployment. Public spending needed to be curbed.
- 16What did Tony Been establish in 1974?National Enterprise Board (NEB)
- 17What event, in 1975, led to people questioning the effectiveness of the NEB?British Leyland was nationalised.
- 18When did Harold Wilson suddenly resign?March, 1976
- 19How did Harold Wilson describe his successor, James Callaghan, as Prime Minister?"A safe pair of hands."
- 20When was the first Labour Party Conference with Callaghan as PM held?September, 1976
- 21How much was the loan received by the IMF in December, 1976?£3 billion
- 22By 1978, how many British oil fields were in production?9
- 23What value did inflations rates fall to under Callaghan's premiership?10%
- 24How many Liberal Party MPs pledged their allegiance to support the Labour Party in the 'Lib-Lab' Pact?12
- 25When were the referendums for Devolution held in both Scotland and Wales?1st March 1979
- 26How much of the electorate needed to be in agreement for Devolution in order for it to be successfully passed?40%
(a Labour Party MP introduced this Clause) - 27What was the value of the wage increase offer that the TUC rejected from the Labour Party?5%
- 28How long did the Ford lorry drivers go on strike for, and what was the outcome?9 weeks and a 15% wage increase by December, 1978.
- 29Roughly how many workers came out on strike on 22nd January,1979?1.5 million
- 30Name four other groups of workers who arranged strikes during Callaghan's premiership (not lorry drivers).Hospital Porters (CHSE)
Clerical Staff in local councils (NUPE)
Dustmen
Gravediggers - 31When did the general strikes reach their conclusion?March, 1979
- 32What was the overall average wage increase?10%
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- British Economy, 1974 - 1979 (Harold Wilson, LP)
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- Chloe Fairbrother · Jan 2017
- Updated
- Mar 22, 2017
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