Labour in Office 1974-1979

really basic notes for exam to learn

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Labour in Office 1974-1979
3 restrictions:
-thinness of majority ­ reliant on Liberals ­ gave them power not experienced since Lloyd
-Britain suffered badly from inflation after the oil price crisis of 1973 (IMF loan conditions)
-it's struggle to come to terms with the Unions
Wilson had good relations with Jack Jones, moderate leader of Transport and General
Workers Union
Wilson led nation to believe he would break the cycle of Stop-Go economics but the 73
oil crisis raised prices and he was limited with IMF conditions so failed to deliver
Callaghan had a relaxed style of leadership that was not suited to a critical situation
October 1974 election ­ Labour 319 seats, Conservatives 277 seats
1976 negotiated loan of £4 billion from IMF
1979 government reduced spending by £1 billion
At the sacrifice of rising unemployment ­ 1.6 million unemployed in 1978


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