87-97 Flashcards
describe Lawson’s economic policy 87-97
horrific
Inflation in June 1989
8.3%
when was stock market crash
October 1987
how much was wiped off stock prices
24%
£50 billion wiped off city stock values and £102 billion by the end of the week
budget deficit 1989
£20bn
limitations of privitisation by 1989
some thought Thatcher was privitising out of dogma
Privitistion led to more regulation as utilities could not be let loose- alphabet agencies created
Thatcher’s stance on the ERM by 1989
accepted she would have to join as Lawson and Howe threatened to resign if she did not
interest rates 1990
15%
what happened in 1990
recession
Home ownership increase
54% to 65%
1989 housing crisis
Interest soared, house prices slumped and 2m were stuck paying mortgages which cost more than their house (negative equity)
when was the education reform act
1988
what did the education reform act do
national curriculum
testing at 7,11,14,16
control of budgets transferred to headteachers who could opt out of local authority control and become grant maintained
when was the market mechanism proposed and when was it
1989
Clarke proposed doctors could control their own budgets and hospitals could leave the NHS
reaction to the market mechanism
privitisation gone mad
outrage
when was the poll tax introduced to Scotland
1989
when was the poll tax introduced to England
1990
who set up the anti poll tax federation and when
Militant tendancy in 1989
describe the poll tax protests
31st March 1990
250,000 protesters in Trafalgar square
5,000 injuries
300 arrests
when was the poll tax withdrawn
1991
why were Labour doing better by 1989
threat from the alliance was diminished
Accepted the mixed economy, need for union controls
Labour’s situation by 1989
winning in opinion polls
45 seats to the Tories 32 in European elections
