5480646
Description
Flashcards by Beth B5236, updated more than 1 year ago
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Created by Beth B5236
almost 8 years ago
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| Question | Answer |
| 1964 - 1979 Overview | Ec1. Labour in power under Wilson (1946-70 and 1974-76). 2. Conservative PM Heath (1970-74). 3. Callaghan (Labour) take over PM in 1976 when Wilson resigns. 4. Liberal progressive acts. 5. Start of economic problems. 6. Heath's U-turns. 7. industrial relations problems. 8. Thatcher become Conservative leader in 1975 (not a massive change as her policies are unfocused and she's in opposition). 9. Conservatives, under Thatcher, win power in 1979. |
| Economics 1964-70 | 1. Balance of payments problems (£800 million). 2. Devaluation of the pound ($2.80 to $2.40 - a 14% decrease). 3. Resignation of Callaghan as Chancellor, replaced by Jenkins. 4. IMF loans in 1964 and 1967 (made the government look like it was losing control). 5. creation of the DEA under George Brown, leading to the National Plan. 6. Import duties increased. 7. Strict limits on government spending (£750 million limit and wages held down) - leading to a balance of payments surplus in 1969 (£400 million). 8. Failure of 'In Place of Strife' in 1969. |
| Economics 1970-74 | 1. 'Selsdon Man' - a more free market liberal approach to the economy and a break away from consensus. 2. Failure of the Industrial Relations Act in 1971 (as it was not compulsory). 3. 'Barber boom' - cuts in interst rates and taxes (opposite to 'Selsdon man') leading to huge inflation increases. 4. Increase in unemployment (topped 1 million in 1973). 5. Oil price crisis in 1973 (Yom Kippur War) - oil prices increase by 400%. 6. Failure of national income policy (limit on wage increases). 7. Bail-out of Rolls Royce and Upper Clyde Shipbuilders (U-turn). 8. Balance of payments deficit of £900 million by 1973. 9. Three-day week in 1974 - oil price increases, miners' strike and power workers refusing to work overtime. |
| Economics 1974-79 | 1. Exactly the same people as 1967-70 = old, tiered and the same policies that hadn't worked. 2. Excessive trade union power. 3. Inefficient and bad management. 4. Poor levels of investment. 5. British goods uncompetitive (poor quality and expensive). 6. weak GDP compared to competitors. 7. inflation at 26% in 1976 and public spending up to 50% of GDP. 8. IMF loan in 1976 (£3.2 million) - The end of consensus? 9. 'Social contract' (5% wage increase limit) - results in strikes and the 'Winter of Discontent'. |
| Society | 1. Progressive legislation (abortion, homosexuality, death penalty, divorce, censorship). 2. Permissive society (swinging sixties). 3. The emergence of Punk scared many and to many it seemed that the country was going downhill. 4. Birth of environmentalism and growth of feminist (pressure groups became more important). 5. Miners' strike of 1972 and 1973. 6. Education Act of 1976 (further comprehensivisation). 7. BUT - Commonwealth Immigration Act was not very progressive and was opposite to the Race Relations Acts passed. |
| Foreign Policy | 1. Withdrawal from East of Suez. 2. Southern Rhodesia (UDI in 1965. 3. Macmillan's 'Wind of Change Speech' and Biafra. 4. Vietnam (Wilson Keeps us out). 4. Membership of the ECC in 1973. 5. Increasing competition from Japan and Asia. |
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