18.2 Post-war economic adjustment

Question 1

What happened to rationing after the war ended and why?

Answer 1

Rationing continued and even increased because imports were kept low as they couldn’t afford the $

Question 2

What did the Labour government do to imports and exports?

Answer 2

Imports were reduced and exports were increased to limit the $ gap

Question 3

How did the government manage industry to allow the transition to peacetime? (3)

Answer 3

• Wartime controls remained on wages and prices
• Materials allocated to export industries
• Regional policies to encourage new factories in depressed areas

Question 4

What was the name of the system in which the government fixed prices, subsidies, interest rate, tax manipulated imports and exports and controlled rationing?

Answer 4

State Planning Economy

Question 5

Which to global institutions were created at Bretton Woods - what were they for and when were they created?

Answer 5

World Bank and International Monetary Fund 1944

Question 6

How did Labour deal with the post-war economic adjustment (5)?

Answer 6

• Rationing
• Rebuilding exports
• War to peace transition
• Economic planning
• International economy

Question 7

When did rationing end?

Answer 7

1954

Question 8

When and why were bread and potato rations introduced?

Answer 8

Bread: 1946-48
Potato: 1947-48

There was a bad winter in 1947 and rationing was kept low to keep resources focused on exports