Try to maintain full employment while at the same time achieving economic growth. Raise productivity and exports Control inflation Maintain the welfare state Reduce taxation and public expenditure
1 of 36
What was the ideal of Nationalisation?
Enacted the principle that the government had the right to direct key aspects of the economy in order to create social justice and efficiency.
2 of 36
What did the nationalisation of the coal industry do?
Helped the working class- increase output going to exports.
3 of 36
What did the welfare state offer?
Everyone would be able to receive health care when needed.
4 of 36
What was set up for checking if the NHS was cost effective?
Guillebaud Committee
5 of 36
What did the Guillebaud Committee find?
It showed that the NHS was cost effective and efficient.
6 of 36
What was Churchill's opinion on the Welfare State?
Conservatives were content to accept the structure of the Welfare State.
7 of 36
What did Conservatives increase their spending on?
social services
8 of 36
What was total expenditure on social services in 1950s?
39.2%
9 of 36
What was total expenditure on social services in 1964?
43%
10 of 36
How much was mens weekly wage in 1951?
£8.30
11 of 36
How much was mens weekly wage in 1964?
£18.35
12 of 36
What was the growth in mens weekly wages due to?
the stop-go cycle and cut taxes
13 of 36
What did growth in weekly wages lead to?
This led to huge savings and led to a boom in car ownership and surge in ownership of consumer goods like TVs, white goods and furniture.
14 of 36
Why did farmers do well during this period?
state subsides
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What did state subsides lead to?
more products
16 of 36
What did more products due to state subsides lead to?
the end of rationing
17 of 36
What did Conservatives reaching their housing target lead to?
arrival of new towns like Corby
18 of 36
What did the availability of credit lead to?
This meant that people could buy things like cars and TVs that they previously couldn’t afford.
19 of 36
What did the sale of cars raise to and from during the conservatives time in power?
1.5 million to 5.5 million
20 of 36
What economic problem did the Suez Crisis cause?
The pound came under huge pressure on the international exchanges.
21 of 36
How much did the Bank of England lose in the October of the year of Suez?
£84 million and then a further £50 later
22 of 36
When was the financial crisis?
1957
23 of 36
What caused inflation in 1957?
wages running ahead of productivity
24 of 36
What was introduced to combat inflation?
pay pause
25 of 36
Why was the wage increase a problem?
It happened at an uneven rate and a lot of occupations didn’t receive one.
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What was there a danger of in 1957?
Devaluation against the US dollar
27 of 36
Why was there a danger of devaluation in 1957?
Run on the pound
28 of 36
Why was Britain lagging behind her European Competitors?
Britain's trade with the empire and commonwealth was not sufficient to catch up.
29 of 36
Why couldn't Britain trade with Europe?
Britain's application to join the EEC in 1961 was rejected by France.
30 of 36
Why can it be argued that Britains application to join the EEC was rejected by France?
Britain abandoned France in the Suez Crisis.
31 of 36
Why were countries like France doing so economically well?
Due to recovery after WW2- huge investment in rebuilding and modernisation
32 of 36
What is an example of modernisation in France?
Electric trains
33 of 36
Where was Britain spending all of their money instead of in modernisation?
Nuclear Weapons
34 of 36
Why did Britain spend so much on Nuclear Weapons?
All prime ministers preoccupied with Britain's world position.
35 of 36
What was an argument for Britains need to be spending on nuclear weapons?
The context of the cold war
36 of 36
Other cards in this set
Card 2
Front
What was the ideal of Nationalisation?
Back
Enacted the principle that the government had the right to direct key aspects of the economy in order to create social justice and efficiency.
Card 3
Front
What did the nationalisation of the coal industry do?
Back
Card 4
Front
What did the welfare state offer?
Back
Card 5
Front
What was set up for checking if the NHS was cost effective?
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