Lecture notes
Economy under the Conservatives 1990-97
- Institution
- AQA
Some notes on how the Conservative Government managed the economy during 1990-97.
[Show more]
Seller
Follow
Content preview
“How effectively did theconservatives manage the
economy in 1990-1997”
Created @November 28, 2022 8:15 PM
Topic Economy
Gov and PM Conservatives Major
Type Classwork
What is Black Wednesday?
1992 Chancellor: Norman Lamont
= lending rates, interest rates up 12%
= bank of England had to intervene
= if the bank opposes and challenges the exchequer = wrong government
The run on the £ ended up with 12% interest rates but the bleeding did not stop
ERM= economic community
= aimed to stabilise interest rates between countries, which were pegged to the DM
(german currency) in the ration 3:1 DM:£
= only allowed to flow in the range of 2.25%
= however Britian struggled to keep up in the amrgin and it was kicked out (italy also -
so not uniquely a John major problem)
Concerns regarding the system:
Positive: helped trade between countries and was a prelude to a single currency (euro)
Negative: relying on a currency which could also value and devalue, also the strata in
which the range is maintained (2.25%) is very small - later changed to 15%
= technically not really Britain’s fault…
Why it happened:
1. Inadequate harmonisation of past policies
2. Inadequate harmonisation of future policies
“How effectively did the conservatives manage the economy in 1990-1997” 1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller aldabraandronic. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £0.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82191 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now