Problems facing the new Government (Wilson)

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  • Created on: 04-02-13 09:30
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Problems facing the new Government (Wilson)
Britain was changing from an industry dominated by heavy industry to one
which finance and services were expanding
Transition was no smooth or spread evenly spead so caused
considerable social disruption
Despite Keynesians economics emphasising the role of central planning,
the truth was that no one really had control over these events the free
market was flexing its muscles
Governments were doing little other than to respond to the economic
realities and often not doing this very well the country's economy was
ignoring practising economic theory
Britain was failing to match the economic growth of other western
countries
Wilson's government spent too much money on defence and not enough
on investing in an industry even outspent the USA between '71`79

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