THATCHER: ECONOMICS 0.0 / 5 ? HistoryModern Britain - 19th century onwardsA2/A-levelEdexcel Created by: Ciara_TCreated on: 24-04-18 11:26 SHE INTENDED: Reduce Inflation // Reduce budget deficit // Increase effiency // Reduce TU power 1 of 6 SUMMARY OF POLICIES free market> gov intervention // financial dereg // reduce tax = increase work incentive // TUs // monetarism 2 of 6 MONETARISM (developed by Milton Friedman) belief inflation is caused by the amount of money in the economy - had only been tested in the military dictatorship in Chile 3 of 6 WHAT THATCHER DID reduce the money supply through cuts to government spending and higher interest rates 4 of 6 THE SUCCESSES inflation reduced to single figure by '82, never rose above 9% for the rest of the 80s 5 of 6 FAILURES 1980-81 budgets slashed gov spending (riots) Manufacturing fell 14% // 1982 3M unemp // 1979 Inflation 10.3% 1990: 10.9% - no real change 6 of 6
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