97-07 Economy

Question 1

Browns aims for the economy

Answer 1

-inherited favourable circumstances in 1997
-aimed to keep inflation and gov spending low
-prove labour was pro-business

Question 2

Bank of england reform

Answer 2

-made it independent from the government
-gov set inflation targets but bank set interest rates
-brown set treasury rules on how much gov could borrow

Question 3

Public service funding

Answer 3

-post 2001 injection of money into public services
-new schools, doctors/nurses/teachers pay rises
-exam results up, waiting lists down
-made up for tory underfunding of services

Question 4

PFI

Answer 4

-private sources of funding for public services
-buildings completed quickly but debts for future