economy under churchill
- Created by: AIMEEBRIGDEN1
- Created on: 29-12-19 23:00
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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
- failures
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