Conservative Decline and the Rise of New Labour - Economics (AQA compete notes 14/16)

These notes are for the 'Making of Modern Britain' course on AQA and as such follow the spec, although would be useful for all modern britian courses. They contain hystoriography, detail and explanations. 

The notes are devided into the sections of the spec, therefore there are 16 documents (as there are 4 areas (politics, economics, society, and foriegn policy) and there are 4 periods (Post war, Wilson + heath, Thatcher, and Blair)). 

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Conservative
decline
and
the
rise
of
New
Labour,
1990-2007
­
Economy

`Black
Wednesday'
and
its
impact
on
the
economy
and
public
opinion;
the
role
of
economic

issues
in
weakening
support
for
the
Conservatives;
Labour's
economic
policies
and
their

impact,
1997-2007





John
Major
1990-1997


Chancellor
of
the
Exchequer
­
Norman
Lamont…

Page 2

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16
September
1992
ERM
crisis
­
`Black
Wednesday'



- Background

o 1989
­
Britain
had
joined
the
ERM
(the
first
stage
of
EMU

membership).

o Thatcher
had
joined
reluctantly
after
advice
from
Major
(her

Chancellor).

o ERM
linked
the
currencies
of
Europe
to
the
DM
­
it
was
the

strongest…

Page 3

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! Replaced
with
Ken
Clarke.




Post
election
policies

- Privatisations


o 1994
Coal
industry
was
privatised.

o 1996
Railways
were
privatised
but
only
the
trains,
the
infrastructure

was
separate.

o Attempted
privatisation
of
the
Post
Office,
but
heavy
opposition

prevented
it.

- Creation
of
the
`National
Lottery'

o 28%
of…

Page 4

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o This
put
conditions
of
people's
lives
above
market
forces,
so
was

very
much
a
Labour
style
policy.

- Moved
the
regulation
of
Banks
away
from
the
Bank
of
England
to
the

Financial
Services
Authority.


o A
kind
of
deregulation
that
is
perceived
to
have
added
to
the

problems
of…

Page 5

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-

Increases
in
spending



- Between
2001
and
2005

o Health
by
increased
by
8.2%
per
annum


o Education
increased
by
5.4%
per
annum.


- From
2001

o Money
into
public
services
into
schools.

o Blair
announced
that
the
NHS
would
have
year
on
year
increases

above
the
rate
of…

Page 6

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o The
2008
crash
made
the
debt
a
problem.

Euro


- Blair
was
pro-Euro

- Blair
said
he
wouldn't
join
unless
the
5
economic
indicators
devised

by
Gordon
Brown
were
met.

o This
was
because
Gordon
Brown
didn't
want
to
join
the
Euro.

- Historiography

o Ben
Wright
(BBC
annalist)…

Page 7

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