THATCHER: DEREGULATION

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DEREGULATION:
removal of rules and regulation - Thatcher hoped it'd encourage innovation and competitiveness
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1979 REMOVAL OF EXCHANGE CONTROLS
ended restriction on how many pounds could be converted and spent abroad
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1986 "BIG BANG"
relaxed rules on ownership and trading operation of banks
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SUCCESS
Removal of Exchange Controls = +overseas investment w/British profit // Big Bang = London gorwoth, one of the major financial centres in the world // Lawson Boom: eco growth 4-% a year late 80s
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FAILS
Remove of E.C = +spending on consumer goods = drain money +balance of payments deficit // Big Bang = riskier financial schemes - unethical individs with excessive £ = contribute to 2008 crisis
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FAILS PART 2
Brits more accustomed to borrowing money - but Thatch wanted 'careful savers' -- Private household debt+ £16bn - £47bn 1980-89 // Mortgage £43bn - £235bn // by 2003, personal debt £1.3trill, highest in EU
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Card 2

Front

1979 REMOVAL OF EXCHANGE CONTROLS

Back

ended restriction on how many pounds could be converted and spent abroad

Card 3

Front

1986 "BIG BANG"

Back

Preview of the front of card 3

Card 4

Front

SUCCESS

Back

Preview of the front of card 4

Card 5

Front

FAILS

Back

Preview of the front of card 5
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