Inflation was at 25% in 1975 and unemployment was rising to 1.6 million.
4 of 10
What did the IMF negotiators demand in order for the loan?
Heavy cuts in public expendature and budget as a precaution.
5 of 10
What happened as a result of refusing the loan?
Run on the Pound.
6 of 10
When did the Winter of Discontent occur?
1979
7 of 10
How many strikes occured this year?
4583
8 of 10
Who went on strike and why?
4 major public service unions. Partially caused by Healey's high taxation in 1975 budget but also due to the governments attempt to impose a 5% pay ceiling.
9 of 10
What happened as a result of the strike?
PM Jim Callaghan was given a vote of no confiedence and he resigned.
10 of 10
Other cards in this set
Card 2
Front
What is the IMF?
Back
International Monetary Fund.
Card 3
Front
What do Labour government have to do in 1976?
Back
Card 4
Front
Why did they have to do this?
Back
Card 5
Front
What did the IMF negotiators demand in order for the loan?
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