British Economy in 1951
- Created by: Laura Bullock
- Created on: 26-04-13 12:37
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- Economy 1951
- war had badly damaged the infrastructure
- saddled with massive debts
- pre-war markets lost
- old staple industries in decline
- key industries such as coal, steel and the railways nationalised by Attlee.
- consumer goods scarce and expensive
- still a leading economic power
- forefront of key industries such as oil, chemicals, tobacco, shipping and financial markets
- Major manufacturers of cars, electricals and industrial machinery
- optimism about the economic prospects
- mixture of growth and decline
- living standards rose continuously
- Britain slid down the league tables of world economy
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