Tax Reform, Better Law & Order, Reform Trade Unions, Immigration Control, Cuts to public spending, End to public subsidy of 'lame duck" companies,
2 of 24
What were the Conservative Parties Successes in this period?
Increased school leaver age to 16, British currency went decimal
3 of 24
THE U-TURN
blah blah blah
4 of 24
Who was the chancellor and what did he do?
Anthony Barber, he cut public spending costs and introduced tax cuts to encourage investing
5 of 24
What happened instead?
Inflation occurred but no economic boom only a rise in unemployment to 1 million
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What was this term of high inflation but a stagnant economy called?
Stagflation
7 of 24
Why was this called Heath's U-Turn?
Because then the government had to bail out some companies such as the nationlaisation of rolls Royce in 1971 and helping out the Upper Clyde Shipbuilders from going bankrupt
8 of 24
What policies did this act go against in the Conservative Party policy?
Conservative promise of not subsidising "lame duck" industries (Rolls Royce) and leaving the economy alone to be a free market (Bailing out the ship builders)
9 of 24
OIL CRISIS
blah blah blah
10 of 24
What was the oil crisis triggered by?
(1973) The Yom Kippur War
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What did OPEC do as a result?
They issued an oil embargo to prevent the price of oil going down
12 of 24
How much did petrol prices go up?
4 times
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WORKER TROUBLES
blah blah blah
14 of 24
What was the Industrial Relation Act?
It introduced a "cooling off" period after a strike to have another legal strike
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What were the two main workers unions?
TUC and the CNI
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When did major strikes occur?
1972
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Who was the leader of the Yorkshire Miners?
Arthur Scargill
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What was the response from miners during the 1973 oil crisis?
A wage increase
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What did Heath introduce in order to ration supplies?
A three day work week at the start of 1974
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What happened as a result of this?
Industries shut down and workers were laid off. This led to a balance of payments crisis
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Why didn't the government give the miners the pay rise they wanted
They didn't want to treat the miners in a special way
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What was the consequence of this?
The NUC went on strike nationally
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What happened when Heath called a general election in 1974?
There was a hung parliament
24 of 24
Other cards in this set
Card 2
Front
What were the Conservative Parties Goals?
Back
Tax Reform, Better Law & Order, Reform Trade Unions, Immigration Control, Cuts to public spending, End to public subsidy of 'lame duck" companies,
Card 3
Front
What were the Conservative Parties Successes in this period?
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