economy under churchill

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  • economy under churchill
    • failures
      • had to cut government salaries
      • number of official cars reduced
      • civil service staff cuts of 25,000
      • imports were reduced
      • interest rates uncreased so to curb demand they started stop- go economics
      • deficit of 750 million after a balance of payment crisis
    • successes
      • ended food rationing in 1954
      • went from debt of 8700 million under labour to positive 300 million
      • uk became increasingly prosperous
      • denationalised steel and iron and road haulage
      • only 200,000 1% unemployed
      • wages increased from 8.50 to 15.35
      • maintained a friendly approach to trade unions
    • aims
      • strengthen allience with US
      • maintain full employment and increase housing stock
      • maintain empower
      • fix economy , stop nationalisation , end austerity

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