Between 1970 and 1979 unemployment rose from just over 600,000 to nearly 1,500,000.
1976 - Devaluation of the Pound
*This took place because:
*The deficit had grown considerably & Wilson had gotten another loan from the IMF.
*There was an increase of exports and a decrease of imports.
*This impacted on the economy as it was bad for the financial sector and people lost confidence in economy.
The Selsdon Man
*An imaginary anti-Keynsian, pro-market individual. The new type of Conservatism. Heath proposes plans for a free market.
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