Downing Street attack (90); Downing Street Declaration (93); Mitchell Report (96)
1 of 21
What was the Downing Street attack (90)?
After two months in office, IRA attacked Downing Street, injuring four police officers
2 of 21
What was the London attack in 1993?
In '93, a bomb went off in London, killing 1 person and causing over 1b in property damage. People protested peacefully
3 of 21
What was the Downing Street Declaration ('93)?
It outlined the approach to achieving peace in NI. UK agreed to respect democratic wishes of Irish people on whether united or not.
4 of 21
What were the failures of the Downing Street Declaration?
Ceasefire didn't last long. Neither paramilitary group trusted the other, and the violence continued from '96 to '98
5 of 21
What was the Mitchell Report (96)?
US senator Mitchell suggested six key principles to achieving peace, the main one was decommissioning. Gerry Adams of Sinn Fein agreed to sign
6 of 21
Economy: Thatcher 1st (79-83)
Monetarism
7 of 21
How did Thatcher use monetarism?
To reduce inflation by restricting the money in circulation, cutting public spending, and keeping interest rates high
8 of 21
Why did Thatcher keep interest rates high?
They increased from 12% to 14% so as to stop irresponsible borrowing
9 of 21
What were some failures of high interest rates?
Businesses were discouraged to borrow, so a decline in output and demand, so businesses go bankrupt or decrease, so unemployment
10 of 21
How did monetarism fail?
By 1980, it was clear monetarism was failing. Inflation rose to 15%, unemployment doubled to 11.4%. Total output fell by 2.5%, with manufacturing falling 9%
11 of 21
What social impact did this have?
People rioted, concentrated in areas of high unemployment, poor housing, and high crime rates
12 of 21
What was the Housing Act (1980)?
Gave council tenants the right to buy their council house, with up to 50% discount depending on how long they lived there
13 of 21
What were the benefits of the Housing Act?
By 1998, over 2 million new homeowners had taken advantage of this scheme. It was extremely popular
14 of 21
What were the drawbacks of the Housing Act?
‘Desirable’ areas would be bought, leaving only ‘undesirable’ council estates for lower, working class. This could increase crime and poverty.
15 of 21
Economy: Thatcher 2nd (83-90)
Supply side economics
16 of 21
What was supply side economics?
Privatise key public sectors; de-regulation; reduce trade union powers; and cut income tax
17 of 21
Why privatisation?
Neo-liberals believe role of state is to create markets; private sector better (i.e. BT was bad, long waiting times, so businesses couldn't start up etc...)
18 of 21
What did they denationalise?
BT (84); British Gas (86); British Steel (88); water (89); electricity (90)
19 of 21
What was the impact of this denationalisation?
By 1990, 9 million people owned stocks. In '84, 3b was raised through the sale of 50% of BT shares. It put London as the heart of the financial trading internationally
20 of 21
Why did Thatcher deregulate the stock exchange?
It was a tedious process, so she merged the 'jobber' and 'broker' jobs and made it so it wasn't any longer an 'old boys network'
21 of 21
Other cards in this set
Card 2
Front
What was the Downing Street attack (90)?
Back
After two months in office, IRA attacked Downing Street, injuring four police officers
Card 3
Front
What was the London attack in 1993?
Back
Card 4
Front
What was the Downing Street Declaration ('93)?
Back
Card 5
Front
What were the failures of the Downing Street Declaration?
Comments
No comments have yet been made