Economy under the Conservatives Flashcards
(41 cards)
Increase in real wages?
25%
Opinion of political commentator Andrew Gamble?
The 1950s were the golden years of the conservatives.
How were the years under labour previously described?
‘austerity’
How were the years under conservatives generally described?
‘affluence’
How did Harold Wilson describe the years under conservatives?
‘thirteen years wasted’
What was the conservative slogans in 1959 election?
‘never had it so good’
‘Life is better under the conservatives’
World trade decrease in Britain?
25% - 15%
Defence expenditure of Britain (percentage of GDP)
10%
Why was money spent on military?
Independent nuclear arms programme
Maintaining military bases
What percentage of British research funds went towards defence and not industrial growth?
34.5%
World trade increase in Germany?
7% to 20% (1951-64)
What was prioritised overseas?
Maintaining strong sterling area
Proof that increase in wages was not due to inflation?
Wages rose faster than products
Wages increase?
Weekly average wage of an adult:
1951 - £8.30
1964 - £18.35
Inflation via postage rates?
1955 - 2.50p
1959 - 3.75p
Percentage rise in car ownership?
500%
Percentage rise in TV ownership?
4% to 91%
What could borrowers now do under conservative government?
Borrow money and repay in monthly instalments over a number of years
How many houses did conservative government promise to build each year in 1951 election?
300,000
How many houses built?
1954 - 354,000
1.7 million while conservatives were in office
1957 Rent Act meaning
Abolished rent controls and resulted in more houses available to rent
No. people who owned property increase?
25% before WW2
44% by 1964
Macmillan’s speech in 1957 (Bedford)
‘most of our people have never had it so good’ due to ‘industrial towns’
Chancellor from 1951-5?
R. A. Butler