Thatcher Flashcards
(28 cards)
What was the economic policy approach agreed upon by post-war politicians?
Collectivism
Collectivism involved state-led initiatives where people worked together for common purposes.
What is nationalism in the context of British industry?
Industry run by the government
Nationalism emphasized government control over industry.
What economic strategy did Keynesian policies advocate?
Borrow and spend to stimulate growth
Keynesianism opposed balancing the books during economic downturns.
What was the main economic approach adopted at the end of the 1970s?
Free market solutions
This was in response to inflation and unemployment issues.
What event in 1978-79 contributed to Margaret Thatcher’s election?
The Winter of Discontent
This period of strikes and unrest highlighted discontent with the Labour government.
What was the goal of monetarist policies during Thatcher’s government?
Tackle inflation
This included raising interest rates from 20% to 4.5% between 1979 and 1983.
What were supply-side policies focused on?
Tax cuts, welfare cuts, deregulation
These policies aimed to push people back into work and reduce government spending.
What was the impact of privatization during Thatcher’s time?
Promoted competition and raised £19 billion
Industries like British Gas were sold to shareholders, increasing private ownership.
What was the purpose of the Private Finance Initiative (PFI)?
Build hospitals and schools privately
This approach was intended to reduce public sector spending.
What did deregulation achieve in the financial sector?
Removed rules that blocked innovation
This led to the growth of London as a major finance center.
What was the effect of Thatcher’s tax policies on the income gap?
Increased gap between the rich and poor
Tax cuts for the rich led to wealth concentration.
What was a significant consequence of the miners’ strikes from 1984-85?
Union membership halved
This decline in union power affected whole communities.
What was the Local Government Act of 1985’s impact?
Abolished councils
This reduced local governance and independence.
What was introduced in education under Thatcher’s reforms?
National Curriculum and GCSE
These reforms aimed to raise educational standards.
What did the community charge (poll tax) entail?
Charge based on individuals, not property
This system disproportionately affected the poor.
What was the outcome of Thatcher’s NHS policies?
Internal markets and increased costs
Health authorities purchased services, leading to financial strain on trusts.
What was the political shift observed in the UK during Thatcher’s era?
Centre ground moved to the right
This change saw Labour and Liberal parties adopting Thatcherite policies.
What was the impact of Thatcher’s policies on regional wealth distribution?
Increased division between London/S.E and the North
Economic growth was concentrated in the South East.
What was a major consequence of Thatcher’s approach to local government?
Closure of local facilities and support groups
Funding cuts led to reduced effectiveness of local governments.
What was the significance of the Falklands War in 1982?
Boosted Thatcher’s popularity
The successful military action improved her public image.
What did the Brighton Bomb in 1984 signify?
Threat to Thatcher’s government
This assassination attempt highlighted the dangers faced by her administration.
Fill in the blank: Thatcher’s character and _______ gave her the confidence to make changes.
bravery
True or False: Thatcher’s policies led to a reduction in unemployment in industrial areas.
False
Monetarist policies were criticized for increasing unemployment.
Fill in the blank: The richest 10% saw their income increase by _______% from 1979-92.
61
