Economic Developments: Thatcher's management of the Economy 3

Question 1

What year was the Loan Guarantee Scheme introduced?

Answer 1

1981

Question 2

What did the Loan Guarantee Scheme do?

Answer 2

Made it easier for smaller companies to borrow money

Question 3

What did the Enterprise Allowance Scheme try to encourage?

Answer 3

Tried to encourage the unemployed to start their own businesses

Question 4

What did the Enterprise Allowance Scheme give people?

Answer 4

It gave people £40 a week to help with their businesses

Question 5

What year was the Enterprise Allowance Scheme introduced?

Answer 5

1981

Question 6

How many individuals were funded by the Enterprise Allowance Scheme from 1982 to 1983?

Answer 6

3000

Question 7

How many people did the Enterprise Allowance Scheme fund by 1990?

Answer 7

325,000

Question 8

Name a significant business that gained funding from the Enterprise Allowance Scheme

Answer 8

Superdry

Question 9

What was a limitation with the Enterprise Allowance Scheme?

Answer 9

1 in 6 businesses failed within their first year of being created

Question 10

What percentage of unemployment was likely reduced by the government from the Enterprise Allowance Scheme?

Answer 10

Around 10%

Question 11

What was Financial Deregulation?

Answer 11

The government removing their controls over the financial sector of the country

Question 12

What did Financial Deregulation do to the London Stock Market?

Answer 12

It made it available to everyone

Question 13

What year was the financial deregulation of the London stock market put into place?

Answer 13

1986

Question 14

What group of people emerged from the financial deregulation of the London Stock Market?

Answer 14

The ‘Yuppies’

Question 15

What was the Balance of Payments Deficit in 1980?

Answer 15

£16 billion

Question 16

What was the Balance of Payments Deficit in 1989?

Answer 16

£46 billion

Question 17

What event was created when the London Stock Market was deregulated?

Answer 17

The ‘Big Bang’

Question 18

What did most people use the larger bank loans for under financial deregulation?

Answer 18

Foreign consumer goods

Question 19

What was the average economic growth percentage from 1984-8?

Answer 19

3.7%

Question 20

What was the case for the London Stock Market by 2000?

Answer 20

It had become the worlds leading financial centre

Question 21

What was significant about the London Stock Market’s title in 2000?

Answer 21

The London Stock Market had not had this title since 1914

Question 22

What was Privatisation?

Answer 22

Selling nationalised industries to the public

Question 23

What was a benefit for the government of privatising many British Industries in terms of Trade Unions?

Answer 23

The Trade Unions in the public sector were very powerful

Question 24

When was Cable and Wireless sold off for and for how much?

Answer 24

Sold in 1981 for £200 million

Question 25

How much was the government making on average a year for privatising industries from 1983 onwards?

Answer 25

£1 billion a year

Question 26

How much money was British Leyland losing a year when it was privatised?

Answer 26

£30 million

Question 27

How much profit was British Leyland making a year when it was privatised?

Answer 27

£120 million in profit a year

Question 28

What year was British Telecom sold?

Answer 28

1984

Question 28

How much was British Telecom sold for?

Answer 28

£5 billion

Question 29

How many people became shareholders in British Telecom?

Answer 29

2 million

Question 30

What was the significance for half of the shareholders in British Telecom?

Answer 30

This was their first time directly investing in shares of a company

Question 31

How many shareholders were there in Britain in 1979 compared to 1990?

Answer 31

3 million shareholders in 1979, 9 million shareholders in 1990

Question 32

What was continentally significant about the amount of shareholders in Britain by 1990?

Answer 32

More people in Britain were shareholders than in France or Germany by 1990

Question 33

What year did British privatisation money peak?

Answer 33

1989

Question 34

How much was made from privatisation in 1989?

Answer 34

£7 billion

Question 35

How many privatised companies had been sold by 1990?

Answer 35

40

Question 36

How many employees had been moved to the private sector by 1990?

Answer 36

600,000

Question 37

What year was there a miners' strike?

Answer 37

1984

Question 38

What year did the 1984 Miners' strike end?

Answer 38

1985

Question 39

What did the Coal Board announce in 1984?

Answer 39

They would close 20 coal pits

Question 40

What coal was cheaper than British coal?

Answer 40

Imported coal

Question 41

How many people would lose their jobs from the 1984 coal pit closures?

Answer 41

20,000 people

Question 42

Who was the Leader of the NUM by 1984?

Answer 42

Arthur Scargill

Question 43

What could Scargill have done in response to the closure of 20 pits?

Answer 43

Called a national ballot to strike

Question 44

Why did Scargill not call a national ballot?

Answer 44

Coal pits in other regions were thriving

Question 45

What did Scargill do rather than calling a national ballot?

Answer 45

He encouraged poorly performing pits to strike

Question 46

How had the government prepared for the 1984 Coal Strike?

Answer 46

They had stocked up 6 months worth of coal

Question 47

What was the result of the 1984/5 Miners' Strike?

Answer 47

The workers failed to prevent the closure of the pits

Question 48

How had Thatcher prepared law enforcement for the strikes?

Answer 48

She had equipped the police with up-to-date equipment to fight strikers if necessary

Question 49

How did Labour feel about the coal strike?

Answer 49

They opposed it

Question 50

What was the idea of less radical individuals in the coal industry over the strike?

Answer 50

They did not want to strike and wished to keep working

Question 51

How many national strike ballots did the NUM create from 1982 to 1983?

Answer 51

3

Question 52

What was the case for the 3 ballots from 1982 to 1983 over striking?

Answer 52

The majority of people voted not to strike

Question 53

What happened to the NUM after the 1984-5 Miners' Strike?

Answer 53

They lost half their members

Question 54

What was an issue with most of the Miners' Strike being in Summer?

Answer 54

Coal was in lower demand

Question 55

How many police officers were present at the 1984 Orgreave Strike?

Answer 55

8000

Question 56

How many Miners' Striked in the Orgreave Strike?

Answer 56

5000

Question 57

What were the police forced to do in 1991 over the handling of the Orgreave strike?

Answer 57

Pay compensation for their poor handling of it

Question 58

How many coal miners were there in 1979?

Answer 58

200,000

Question 59

How many coal miners were there in 1990?

Answer 59

60,000

Question 60

How many total Trade Union members were there in Britain in 1979?

Answer 60

13 million

Question 61

How many total Trade Union members were there in Britain by 1990?

Answer 61

9.5 million

Question 62

What year was the Wapping Dispute?

Answer 62

1987

Question 63

What was the situation for most newspaper businesses by 1987?

Answer 63

They were corrupt

Question 64

What was developed in the newspaper industry at this time?

Answer 64

A more efficient way to print newspapers

Question 65

How many newspaper business workers lost their jobs after a 1986 strike?

Answer 65

6000 workers

Question 66

Where did the new location of newspaper production become?

Answer 66

Wapping

Question 67

What was the result of the Wapping Dispute for the newspaper unions?

Answer 67

They had lost

Question 68

What had unemployment risen to by 1986?

Answer 68

3.6 million

Question 69

How did the government handle benefits paid to older unemployed people?

Answer 69

They gave them disability benefits instead

Question 70

Why did the government change the classifications of unemployment?

Answer 70

To hide the true figure of unemployment