john major (1990-1997) Flashcards
(83 cards)
‘Honeymoon effect’.
The good feel and press following a new government, experienced strongly by Major especially after Thatcher’s unpopularity.
When did the First Gulf War end.
1991.
What did Major replace the poll tax with and what.
Council tax, with 1991.
Why did Major struggle with the poll tax.
Because it could split the party.
How much was lost when moving from poll tax to council tax.
£1.5 billion.
How much was Labour ahead in 1992 opinion polls.
41%.
‘Soapbox politics’.
Political style of making impromptu speeches in street towns on soapboxes.
Economic problems inhereted by Major.
- Declining manufacure output.
- High unemployment.
- High interest rates.
- Slump in housing prices.
What was unemployment at in 1992.
2.6 million.
‘Negative equity’.
Repaying mortgages higher then their homes value. Often led to home reposession.
Who did the issue of negative equity effect.
Working class and traditional Tory voters.
What did Major increase public spending in during 1991-92.
Subsidies on transport and the NHS.
ERM.
Limits on how much European currencies could change to stabilise exchange rates.
When did Britian leave the ERM.
1992.
When had Britian joined the ERM.
1990 (under Thatcher).
What did leaving the ERM cause.
Black Wednesday.
Black Wednesday.
A wave of speculative selling of pounds causing value to sink.
Positive effects of leaving the ERM.
- Britian didnt need to raise interest rates to protect the sterling.
- Exchange rates floated downwards.
- Housing market picked up.
Negative effects of leaving the ERM.
- Conservatives were no longer seen as competent with Britians economy.
- Steep drop in support.
- Major was criticised for his lack of authority.
What did Major see the economic events of 1992 as.
“The beginning of the end”.
Economic positives by 1997.
- Productivity up.
- Consumer spending up.
- Car ownership up.
- Housing prices raised and negative equity stopped.
Which two Tory Mp’s had to resign due to extramartial affairs.
Tim Yeo and David Mellor.
When was the Scott Enquiry set up and what for.
1994 to investigate illegal arms dealings.
What did the Scott enquiry uncover.
Government ministers were enabling arms companies to sell weaponary to Iraq.