Conservatives suffer electoral decline 1960-4

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  • Created on: 11-03-12 09:36
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Conservatives suffer electoral decline 1960-4
Stagflation- unable to meet customer needs due to low productivity- so had to buy products
abroad
Thorneycroft- we should cut public spending & increase taxes BUT macmillian wanted to
lower taxes to win election- Thorneycroft resigned- hidden national debt
Stop/go economics- '55 election decreased taxes- '59 increased- '62 election decreased
Increased trade unions- gov committed to full employment- even if loose job because want
higher wages other jobs available
Higher wages but no increased production = increased price of goods= foreigners didn't
want to buy
No new tech being introduced
Poorer than USA , japan, Germany etc.
Bad industrial progress- min old engine & retailed at wrong price
Macmillian sacked ppl to look younger- more concerned with winning election than country
`Tax on rich'- Orpignton ( a Tory voting area) voted liberal
National income commission ­ negotiated BUT not effective
To reduce inflation ­ wage caps= MILITANCY

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