- Created by: Anna
- Created on: 01-06-15 13:47
Evidence of decline (Supporting the statement)
- Mismanagement of the economy by both Labour and Tories: Sticking to the economic orthodox didn't always work- Kenyanism- Stop-Go Economics.
- UK GDP was 1.8% compared to European average of 3.9%.
- UK GDP growth from 1979-1990 was 2.1% compared to European average of 2.9% (smaller increase but still lower).
- Lack of investment.
- Dominance of Trade Unions and poor industrial relations.
- Cost of maintaining the welfare state: Significant devalutation crisis 1967- reduction of £ on international market. Faliure of National Plan- unreachable targets and DEA.
- Upto 1979 these was an anti-enterprise culture.
- Problems with economic orthodox: Kenyisan System (1979- trigger year, Thatcher).
- Heath Period 1970-1974: Economic Crisis 1973-1974, Unemployment reaching over 1 million, (NUM wages) Miners Strike 1974, 3 Day week- unpopular with British people as it brought back memories of wartime/ Oil Price Crisis 1972.
- Winter of Discontent 1978/79- Mass strikes of public sector workers (binman, gravediggers, schools shut down): Dominance of Trade Unions
- Negative impacts of Monterism 1979-1984: Limited opportunities, Social impacts- Toxeth Riots…