3.10 What Problems Did Labour Face? Flashcards
1
Q
Who did Labour have to rely heavily on?
A
Lib Dems
2
Q
What percentage was inflation at?
A
15%
3
Q
What was the balance of payments deficit?
A
£3 billion
4
Q
What did the government have to ask the IMF for in 1976?
A
A £4bn loan
5
Q
By 1979, what had the government reduced expenditure by?
A
£1bn
6
Q
In 1978, as a result in expenditure cuts, what was the unemployment figure?
A
1.6m
7
Q
What is the IMF?
A
International Monetary Fund
8
Q
What does the IMF do?
A
A scheme to prevent countries from going bankrupt
9
Q
When was the IMF set up?
A
1947
10
Q
By 1990, how many countries had joined the IMF?
A
50
11
Q
How did the IMF scheme work?
A
Each deposited into a central fund and then could withdraw in times of need
