Thatcherism - Individual Home and Share Ownership (Assessment) Flashcards
By the 1990s no one expected, and very few desired, re-_____________. The idea of the state running commercial enterprises was dead. Between 1977 and 1995 the British government raised $97 billion from privatization. Between 1996 and 2000, a leading merchant bank expected European governments to raise between $250 and $300 billion.
Nationalisation
Thatcherites also believed in property ownership, and here they were certainly successful in pushing up ______-occupation to one of the highest levels in the industrial world.
Owner
Between 1979 and 1988, owners increased by _____ million, one million of them from the “right to buy” programme.
Three
The percentage of owner-occupiers rose from 56.7% in 1979 to 63.4% in 1988.
The individual share ownership, thanks largely to the privatization programme but also to employee share schemes, increased sharply - from 3 million in 1979 to __ million in 1988.
9
MP Norman Lamont said in 1988: If I had to choose a statistic that summed up the Thatcher years it is that the number of people now owning shares is not much less than those who belong to _____ ______.
Trade unions
Kenneth Baker, Secretary of State for Education and Science in the late 1980s, preached social conscience and charity:
From those who have much, much is expected. The disposal of the ownership of wealth and power carries with it an obligation for people to respond to the challenge of enhanced responsibility…it is now up to the many who have benefitted from the reductions in ___ to increase their personal contribution to the charities and good causes of their choice.
Tax
In 1995, the Financial Times said of the company Provident Financial, which specialized in lending to the poor at high rates of interest: it is an unpalatable thought, but Provident Financial is benefiting from growing inequality in Britain. Economic stagnation in low-income areas and job insecurity are leaving more families unable to borrow money from traditional lenders such as banks, building societies and credit card providers. Provident exists to fill this gap.
And fill it Provident did, making £101 million profit in 1995 and paying its directors total remuneration of £1.67 million.
In spite of Baker’s hopes, the company gave precisely £__,_____ to charity.
51,000
What does YUPPIES stand for?
Young upwardly mobile professionals
What does YAPPIES stand for?
Young affluent professionals
What does GRUPPIES stand for?
Green urban professionals
