Specific Info Flashcards
(64 cards)
1955 Butler Tax Cuts
£134 million in Tax Cuts
Heathcoat Amory disaster
Before 1959 he issues tax cuts when inflation is high leading to spiralling inflation, he then has to hike tax and interest rates
1959 post election tax cuts
£370 million
Maudling “go” phase
lowers interest rates, resulting in a “spring” from 4% to 6% growth in GDP 1963-1964
Exports vs imports 1961-1964
Despite a rise of exports by 10%, imports remained 20% higher than exports by 1964
BoT deficit 1964
£800 million
British vs France, Italy, USA relative % of R&D spent on defence 1963-4
Italy 2.6%
France 26.2%
UK 35.5%
USA 40.6%
% of GDP spent on defence in 1964
10%, £1.7 billion
When was blue Streak scrapped
1960
GDP growth rate 1951-1964
Lowest in Europe - 2.3%
When was EFTA established
1959
When was British first application and rejection
1961, 1963
Weaknesses of being outside of Europe
Less appealing for business investment
Subject to European Tariffs
Suez economic consequences
US blocks british appeal to IMF for a loan
US refuses to provide oil to compensate for Saudi oil embargo
- Run on the £
- On 3 January 1957 Macmillan admits that the expedition has cost Britain £564m (swelling of debts)
When was Polaris purchased
1963 - Mutual Defence Agreement
FIrst UK nuclear detonation
1952
First UK H-bomb detonation
1957
Successful campaigns EoS
Malayan Emergency, Kenya, Aden
Mutual Defence Pact
Polaris _ Stationing of American IRBMs in Scotland
Wolfenden Commission
1957 - recommended decriminalisation of homosexuality
Homicide Act 1957
Bar for execution is far higher
First Students run the OU
Jan 1971
Labour divisions 1959
Clause IV, Unilateralism
Property owning democracy
300,000 per year under Macmillan
1.7m 1951-1964 (60% private dwellings)
- Rent Act - abolishing rent control, 6m homes on market
- Availibility of credit and mortgages