What impact did Thatcher's governments (1979-90) have on Britain 1979-97 Flashcards
(51 cards)
What nickname was given to Margret Thatcher by the Russians?
The ‘Iron Lady’
Which war was Margret Thatcher involved in during her leadership?
The Falklands war
What significant action did Thatcher take regarding council houses?
Allowed people the ‘right to buy’ their own council houses
What economic ideology did Margret Thatcher follow?
Neo-Liberalism
What industries did Thatcher begin to privatise?
Industries including parts of the NHS
What was the impact of Thatcher’s policies on education funding?
She cut educational funding and removed free milk from schools
How is Margret Thatcher characterized in terms of her divisiveness?
Deemed the most divisive Prime Minister of the 20th century
What was Thatcher’s stance on the Post War Consensus?
Ends the Post War Consensus
What is a compulsory question type focused on in Thatcher exam questions?
Historical interpretations
What was Thatcher’s first economic system from 1979 to 1983?
Monetarism
What economic theory did Thatcher adopt from 1983 to 1990?
Supply-side economics
By what percentage did manufacturing production fall by 1981?
14%
What was the unemployment rate over 3 million by?
1981
What was the inflation rate drop below in 1982?
10%
What is the definition of privatization?
The selling of nationalised industries to private companies and shareholders
List one reason Thatcher introduced privatization.
- To cut government expenditure on loss-making industries
- To reinvigorate the British economy with competition
- To reduce taxes through revenue from sales
- To allow ordinary people to own shares
- To promote ‘Popular Capitalism’
What was the most successful part of ‘Popular Capitalism’ under Thatcher?
The sale of over a million council houses to owners between 1979 and 1988
What is a yuppie?
A young urban professional
What was the impact of the Big Bang under Thatcher?
Led to a huge growth in the financial services sector
What was the effect of the miners’ strike on trade union membership?
Membership fell from 13.5 million in 1979 to 6.7 million in 1997
What was the employment rate of manual labor in 1991 compared to 1974?
36% in 1991 compared to 47% in 1974
What was the yearly inflation rate in the UK in 1979?
13.4%
What was the UK’s GDP ranking in 1997?
14
What was the average unemployment percentage from 1980-90?
9.1%