Was Heath's Premiership good or bad? 1970-74
- 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
- 50MPH road limit introduced
- Oil prices quadrupled and supply decreased
- 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
- Rolls Royce faced bankruptcy and the gov. nationalised it as they claimed it was imperative for defence
- Industrial relations act; tried to achieve what Labour failed - was less successful than labour
- 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
- Aims
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