Chapter 5- Wilson and the Labour governments Flashcards
(47 cards)
what side of the party was wilson on
left
why did wilson appear to not be completley left
wanted to reform trade unions
supported nuclear deterrent
what did wilson successfully link the labour party to
modernisation
what image did wilson have
classless
what was he the first prime minister to do
not have been eductaed at a private school
what was britains average GDP from 1950-73
3%
what was germanys avergae GDP from 1950-73
6%
what was japans avergae GDP from 1950-73
9%
what was the economy seemingly trapped in
cycle of stop go
what were the effects of stop go
burtsts of prosperity which woukd cauyse high inflation which would lead to regular runs on the pound and balance of payments crisis
how much of a deficit did labour inherit
800 million pounds
what was set up to tackle economic problems
department fro economic affairs (DEA)
who led the DEA
george brown
what did brown do as head of the DEA
devised national system of ‘economic planning councils’
tried to esatblish volountrary agreement about wages with trade union leaders, civil servants and industrialists
why did browns economic proposals come to nothing
was in competetition with chancellor james callaghan
when was the DEA abandoned
1967
what replaced the DEA
prices and incomes policy
what was prices and incomes policy
government intervention is setting wage limits and call for wage restraint negotiations
why was there another sterling crisis in 1966
long seamen strike
who resigned over harsh treatment of unions (prices and incomes policy)
frank cousins
what was the final straw in devaluation in 1967
war in middlke east caused dockers strikes which had severe effects on balance of payments
by how much was the pound devalued in 1967
14%
who replaced callaghan as chancellor after devaluation
roy jenkins
what defalatory methods did jenkimns use
raised taxes
tigfhtened government spending
