Macmillan limitations 1957-63

Mind Map by alinam, updated more than 1 year ago
Created by alinam over 6 years ago


Mind Map on Macmillan limitations 1957-63, created by alinam on 05/26/2015.

Resource summary

Macmillan limitations 1957-63
  1. 'never had it so good'
    1. relied upon growing affluence and hoped people would be content with higher purchase.
      1. Effects on the economy show that the balance of payments were not as good
      2. Popular appeal
        1. Where at the start of his administration his old school style was regarded as a positive and seen as a gentleman, by the end he was regarded as out of touch with the ever changing/ progressing time.
          1. Only 2 members of the government had non-public schooling.
            1. Eatonites running the country...
              1. 35 out of 95MPs were related to Macmillan by marriage
            2. Industry
              1. Afraid of confrontation/ radicalisation
                1. Very evident when looking at how little was done to modernise industry in the period
                  1. Seen in 90% productivity in W. Germany/ 75% France and only 30% in Britain
                    1. Britain was also lowest in regards to industrial growth 5.7% W. Germany 5.4% France and Italy and only 2.8 % briatin
                2. Night of long knives 1962
                  1. Removed 1/3 of cabinet
                    1. Selwyn Lloyd removed as Chancellor of Exchequer after NIC failed with credit squeeze and public sector pay cuts implemented
                      1. Replaced by Maudling (a much younger minister)
                        1. This went against plans of 1961
                        2. Panic ?
                        3. Unemployment at 800,000 1962/900
                          1. Peak in 1959?
                            1. Disagreement with Peter Thorneycroft (COFE 1957-58) when he wanted to pursue a different strategy then Macmillans high inflation and low unemployment
                              1. £180 million cuts were needed, Macmillan only accepted £100 million
                                1. Currency reserves were being depleted
                                  1. Brought about his resignation in 1958
                                  Show full summary Hide full summary


                                  Using GoConqr to study Economics
                                  Sarah Egan
                                  Emily Fenton
                                  Economics - unit 1
                                  Amardeep Kumar
                                  AN ECONOMIC OVERVIEW OF IRELAND AND THE WORLD 2015/16
                                  John O'Driscoll
                                  Using GoConqr to teach Economics
                                  Sarah Egan
                                  Functions of Money
                                  Comparative advantage
                                  GCSE - Introduction to Economics
                                  James Dodd
                                  Market & Technology Dynamics
                                  Tris Stindt
                                  PMP Formulas
                                  Economic Growth
                                  Maya Khangura