Was Heath's Premiership good or bad? 1970-74

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  • Created by: hastr010
  • Created on: 15-05-18 20:20
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  • Was Heath's premiership good or bad? 1970-74
    • Aims
      • Strengthen the economy and curb inflation
      • legislate to transform industrial relations
      • Create 'one nation' faster economic growth and better social services
      • Apply to join EEC
    • economy
      • Conservatives inherited inflation of 5% per annum
      • inherited the balance of payments surplus but left a substantial defecit
      • 1971 Pres. Nixon ended system of fixed exchange rates with made British exports more expensive - added to inflation
      • Cut taxes and increased gov. spending therefore this increased the demands for goods - pushed up prices
      • oil shock in 1973
        • Oil prices quadrupled and supply decreased
          • 50MPH road limit introduced
            • emergency powers were only allowed to supply industries 3x a week
    • International relations
      • Britain was able to join the EEC due to a new president
      • Joined EEC on French terms - had to sacrifice any remaining preferential trade deals with thee commonwealth and accept the EEC's policy of heavily subsiding French Farmers
    • Industrial relations
      • Industrial relations act; tried to achieve what Labour failed - was less successful than labour
        • workers had a right to join TU's if they wanted to
        • TU's had to sign up to the National Industrial Relation's Court
        • Unions that didn't sign up were liable to damage or repercussions
          • TUC set out to make all Unions defy the NIRC
      • frequent strikes
        • Increased rate of inflation
      • U-turn - previously aimed to reduce state funding of industry
        • Rolls Royce faced bankruptcy and the gov. nationalised it as they claimed it was imperative for defence
          • Then continued to financially aid other companies
    • Miners
      • Miners strike 1972 - skilfully organised
      • Violent incidents- miners of Birmingham prevented fuel leaving the depot
      • In winter so the effect was amplified
      • Government poorly organised unable to deal with it - now looked weak, successful strikes added to inflation and showed failures of IR act

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