Summary
Summary Conservative Dominance 1950s
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- Depth Study
- Institution
- AQA
Conservative Dominance 1950s Contains: Society, Foreign Affairs, Labour Divisions, Affluent Society
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, Post-war boom
·Food
rationing ended in
July 1954
birth rate
fast-growing population
·
increases led to
By 1955 only 200,000 unemployed (1%)
·
estimated thatfull
employment had been achieved,
huge
·
expansion in electrical/engineeringwork
By 1960-1/5pp)
·
in service industries
·Economic low
unemployment brought rising wages
growth t
Rab
·
butter boosted conservative election prospects with
a
'give-away' budget, providing (134 million
in tax cuts
·late 50's
years of optimism, people
had
luxury lifestyles
Balance of
Payments & Stop/Go cycle
·growth in wages outstripped of inc. in
rate production & brought inflation
faced ofmaintaining growth
·
Conservatives task
with -
employmentwhilstkeeping prices steady
through 'stop-go'economics:
·
government attempted to control
growth
stop-high interest rates and
wage freezes, demand falls, output decreases
Go-controls removed. Increase in demands,
rising imports
·
Suez crisis exposed Britain's financial weaknesses and started a run on the pound
·By 1959, Sterling regained value
its
against the dollar
·
The 1959 provided tax
cuts ofE370 million
budgetofApril
you trapped in cycle of'stop-go' policies in
attempt to maintain stability
economic
growth in Europe, especially westGermany, leftBritain behind
·
·Macmillan reversed his party's policies and decided it
was essential for Britain's to join Europe's
economy
Rejection ofEEC application in 1963
·
was a serious setback for Macmillan's economic policies
Autumn 63Beeching report published
·
cuts into Britain's rail network-inc.
recommending massive closure
ofmore than 30% ofrail networks
Exports just 10% between 61-64, butimports remained 20%
higher
·
rose over
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