Economic Development 51-64
- Created by: anbit
- Created on: 27-01-18 13:57
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- Economic Development 1951-64
- Post war Boom
- Rationing came to an end in 1954
- Productivity went up
- full employment was achieved in 1955
- Higher wages
- Higher demand and consumption
- Growth in business confidence
- Increased investment
- Growth in business confidence
- Higher demand and consumption
- Higher wages
- BUT Britains economic growth was weak in comparison to other contries
- 1957 only increased by 2% in production
- Balance of payments and stop go policies
- increased consumer demand = more imported than exported
- lead to balance in payments
- devaluation of the pound
- balance of trade increased by £188 m between 1946-60
- lead to balance in payments
- Inflation
- ecomoney would grow too fast
- stop go economics to counter
- economey- slows down
- controls removed
- increasse demand
- rising imports
- increasse demand
- controls removed
- economey too fast
- control interest rates
- demand falls
- Untitled
- demand falls
- control interest rates
- Suez Crisi 1956
- big tax cuts in 1959
- weaknesses
- 1961- apply for loan from International Monatery Fund and pay pause to keep inflation low
- 1962- National Inocme Commission established to manage wages and prices
- 1961- rethink eec and applied but rejected in 1963
- Untitled
- economey- slows down
- increased consumer demand = more imported than exported
- Post war Boom
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