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British History HLS > ADV INFO - Economic Development 1939-64 > Flashcards

ADV INFO - Economic Development 1939-64 Flashcards

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1
Q

what does the total war mean for the economy

A

the British economy would be fully geared toward winning the conflict

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2
Q

what happened to Britain’s share of the world’s manufacturing capacity

A

1914 - 13.6%

1938 - 9%

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3
Q

what was lower than had been at the breakout of the first world war

A

the country’s gold and international currency reserves

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4
Q

who was key in ensuring the careful mobilisation of resources

A

Ernest Bevin

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5
Q

what had Ernest Bevin had a past in

A

the trade unions

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6
Q

what happened to the distribution of food during the war

A

rationing was introduced.

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7
Q

what did rationing cover

A

a wider range of foodstuffs, including meat, cheese and butter as well as fuel and clothing

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8
Q

what happened to the way men and women were recruited

A

they could be conscripted into work that the government had classified as essential

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9
Q

what was the national service no. 2 act do

A

it took all single women between 20 and 21 into war service, with this age being lowered to 19 in 1942

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10
Q

what did Churchill say about the necessity of women’s work

A

millions of new workers will be needed, and more than a million women must come boldly forward into our new industries - into shell plants, the munition works, and the aircraft factories

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11
Q

who were the most famous groups of conscripted workers

A

the ‘Bevin boys’

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12
Q

who were the Bevin boys

A

men aged between 18 and 24, whose national service numbers, were entered in a fortnightly ballot: those whose final digit matched that week’s randomly drawn number were sent to work in the coal mines

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13
Q

what was wrong with the Bevin boy scheme

A

it was deeply unpopular although it ran from 1943 to 1948

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14
Q

what was order 1305

A

it forbid strikes

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15
Q

why was bevin able to get away with passing order 1305

A

he was a union man himself

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16
Q

what happened to taxation

A

tax on income over £1000 per year rose to 38%. tax on unearned incomes over £1000 was set at 94%.

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17
Q

what was the taxation on luxury goods

A

luxury items were subject to tax equivalent to 100% of their full value

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18
Q

what happened in agriculture during the war

A

million-acre of spare land was to be used for crop production. By 1945, the amount of arable land under cultivation had increased y over 50%

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19
Q

what did many people do to the support the war effort

A

they bought war bonds

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20
Q

how much money was raised through war bonds

A

almost £8.5 billion, an average saving of £177 per person

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21
Q

what did people accept at the time

A

women’s conscription

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22
Q

what did the wartime social survey find out

A

97% of all women agreed that women should do war work

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23
Q

what did civilians do due to government encouragement

A

the saved and collected aluminium pans and iron railings for war materials

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24
Q

how was rationing respected by most people

A

only a minority made use of the black market, which gave access to luxuries

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25
Q

what did the public also seem to accept

A

not only income tax rises but also cuts in the production of consumer goods

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26
Q

what was production like during the war

A

in 1944, it was 54% of what it had been in 1939

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27
Q

what did many civilians do to meet ends meet

A

they took up two jobs, it was not unusual to see a vicar working as a postman

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28
Q

how did the military benefit from the public cooperation

A

130,620 bomber planes were produced between 1940 and 1945

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29
Q

how did the production in Britain compare to that of Germany

A

Germany made 17,498 planes compared to Britain’s 130,620

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30
Q

what did the economy struggle to do

A

cope with the demands of war

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31
Q

what happened to gold reserves in Britain as a result of the war

A

they dropped by £3 million by 1941

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32
Q

what was Britain’s overseas debt by the end of the war

A

over £3 billion

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33
Q

what helped to save the economy

A

Lend-lease

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34
Q

what did Britain receive due to lend-lease

A

$750 million worth of arms in 1941 alone

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35
Q

what did Mollie Panter-Downes say about the war

A

it is the stiffest dose of totalitarian principles that a democracy has ever had to swallow in order to save the democratic ideal from totalitarian destruction

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36
Q

who claimed that conscription did little to help women’s employment

A

Arthur Marwick

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37
Q

what did Arthur Marwick point to

A

in practice, only single women of the age group 19-24 were called up, and they were given the choice of serving in the Women’s Auxiliary services, in civil defence or in certain forms of civilian employment

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38
Q

what had happened at the end of the war for women

A

fewer than half a million women enrolled in the WRNS, the ATs and WAAF

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39
Q

where did women’s employment expand in most

A

light engineering and agriculture

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40
Q

what did the 1950s end up being

A

a period of economic growth

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41
Q

what happened during the 1950s

A

consumption increased and the population became more affluent

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42
Q

where did the industry expand

A

London

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43
Q

what is a key example of industry expanding

A

Royal Dutch-Shell, a large international business with its headquarters in the capital

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44
Q

what industry was booming

A

the British steel industry

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45
Q

what is an example of the steel industry booming

A

the steel company of wales, based in Port Talbot, had one of the world’s most modern milling systems and employed 20,000 people

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46
Q

what is an example of the chemical industry booming

A

ICI employed 6,000 research workers and was noted for spending more and R&D than all Britain’s universities put together!

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47
Q

what was the world’s largest shipping line

A

P&O, with 366 vessels in total

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48
Q

what did successful firms begin to do

A

apply contemporary market research and advertising techniques

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49
Q

what did Unilever do

A

they produced goods ranging from frozen food to toothpaste. They also invested heavily in training its managers, which had not previously been a priority in the British industry

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50
Q

what were the statistics for economic growth

A

it was 4% on average a year during Macmillan’s premiership

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51
Q

what business emerged in electronics

A

Ferranti

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52
Q

what business emerged in engines, light bulbs, fridges and washing machines

A

AEI

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53
Q

what business emerged in cars

A

rolls-Royce

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54
Q

what business emerged in shipbuilding and aircraft

A

Vickers

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55
Q

what businesses emerged in wheels and turbines blades

A

Guest, Keen and Nettlefolds

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56
Q

who set up a business in 1948

A

Hugh Fraser III

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57
Q

what business did Hugh Fraser set up

A

house of Fraser

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58
Q

what did Hugh Fraser do

A

established universal investment trusts, and added the john barker group (1957) and Harrods (1959) to his investments

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59
Q

what did Charles forte

A

expanded a group of roadside cafes into an enormous catering and hotel business
he set up little chef and happy eater chains
established Britain’s first motorway cafe

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60
Q

when was it shown that Britain was dependent on US support

A

when President Truman decided to end the Lend-Lease programme in 1945

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61
Q

what did the fragility of the economy mean

A

Britain was unable to produce and then export large quantities of goods

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62
Q

what was JM Keynes ordered to do

A

he was sent to Washinton to negotiate an interest-free loan of $6 billion, but the USA was unwilling to accede to his demands

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63
Q

what helped Britain in 1946

A

they received a loan of $3.75 billion, to be repaid at 2% interest. Those repayments would begin in 1951

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64
Q

what was the issue with the loan for Britain

A

it was almost entirely used up within a year

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65
Q

What did Britain have to do as part of the deal with the loan

A

they had to make the pound sterling freely convertible (exchangeable) for dollars from July 1947

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66
Q

what is the sterling balance

A

pounds earned from buying British exports; under the terms of the US loans, these could now be sold to Britain in exchange for dollars

67
Q

who happened to the sterling balance

A

countries with a sterling balance took $1 billion from British reserves

68
Q

what did the British government have to do due to the sterling balance

A

they had to suspend convertibility. Stafford Cripps also chose to devalue the pound, from $4.02 to $2.80, in 1949 in an attempt to boost British dollar reserves

69
Q

what happened to the economy during the period

A

it remained unstable and the government tended to react to crises rather than engaging in long term planning. The next decade was marked by numerous balance of payments crises and subsequent stop-go policies in response

70
Q

what did the USA do between 1947 and 1950

A

rearmed in response to the Soviet threat

71
Q

what did American rearmament mean

A

the price of raw materials was forced up, making imports expensive

72
Q

what happened to British exports in the period

A

they were 17% higher than their 1939 level

73
Q

what did the cost of imports lead to

A

a balance of payments deficit of £438 million

74
Q

how much did Britain receive through Marshall Aid

A

£1,263 billion

75
Q

what happened to exports by 1950

A

they were 75% above their 1938 level

76
Q

what was marshall aid

A

economic support is given by the USA to European countries to help them recover after the Second WOrlds War. The aim was partly humanitarian, but the USA also hoped to strengthen its European trading partners, as well as reduce the link between poverty and the growth of communism

77
Q

how many chancellors were there between 1945 and 1962

A

9

78
Q

what was the first stop policy in 1951-52

A

Churchill inherited a balance of payments deficit of £700 million. As chancellor, Butler responded by introducing credit restrictions, cutting food supplies, and reducing imports by £600 million

79
Q

what happened to the payment surplus in 1952

A

it was £300 million due to the Korean War

80
Q

what was the first go policy of 1953-54

A

Churchill’s government decided to cut the bank rate. Industry began to expand, investment increased, full employment was achieved and there was a rise in exports.

81
Q

what was the second stop policy of 1955-56

A

Butler and his successor Macmillan pursued policies to slow the economy. purchase tax was increased, and the bank rate rose to 5.5%

82
Q

what were Britain’s liabilities like compared to its assets in 1958-59

A

their liabilities were £4 billion and their assets were £850 million

83
Q

What attempts were made in 1955-56 to try and lower inflation and reduce imports

A

hire purchase deposits were increased

84
Q

what was the second go policy of 1957-58

A

Thorneycroft originally pursued policies to stimulate the economy. Taxes were lowered and credit restrictions eased; at first, exports boomed

85
Q

what did the workers do due to the increase in consumer demand, prices and imports

A

they demanded higher wages

86
Q

what happened when workers did not have wage increases

A

strikes were often the outcome.

87
Q

what was the issue with regular strikes

A

it affected production and exports, leading to a balance of payments deficit

88
Q

what was the third stop policy of 1958-59

A

Heavy cuts to spending

89
Q

what did Thornycroft propose

A

spending cuts of £163 million

90
Q

what happened to Thornycroft due to his suggestions

A

he resigned

91
Q

who replaced Thornycroft

A

Heathcote-amory

92
Q

what was the third go policy of 1959

A

an economic boom was created just before the general elections

93
Q

what happened in time for the polling day of 1959

A

Heathcote-Amory cut taxes, simple credit controls, allowed wage increases and lowered the bank rate from 7% to 4.5%.

94
Q

what happened in the 1959 election, with the contribution of the economic boom

A

Macmillan won a handsome majority

95
Q

what was the third stop policy of 1960-63

A

credit was restricted, interest rates rose, 10% was added to purchase tax, and import duties were increased. A pay pause was introduced.

96
Q

what was set up in 1961 and 1962

A

the national economic development council and the national incomes commission

97
Q

why were NEDC and NIC of limited importance

A

the unions were reluctant to engage with them

98
Q

what was the fourth go policy of 1963-64

A

the final year of the conservative government saw a big increase in imports, leading to a balance of payments deficit of £748 million in 1964.

99
Q

what did growing competition lead to

A

British products were often priced out of the market

100
Q

when was the first period of stop policies

A

1951-52

101
Q

when was the first period of go policies

A

1953-54

102
Q

when was the second period of stop policies

A

1955-56

103
Q

when was the second period of go policies

A

1957-58

104
Q

when was the third period of stop policies

A

1958-59

105
Q

when was the third period of go policies

A

1959

106
Q

when was the fourth period of stop policies

A

1960-63

107
Q

when was the fourth period of go policies

A

1963-64

108
Q

where were there changes due to recovery in trade and industry

A

technology and the administration of leading firms

109
Q

what things continued to develop as they had done in the inter way years

A

chemicals and car industries and the improvement of management techniques

110
Q

what things did British firms copy

A

US management techniques

111
Q

what grew in the period

A

corporate raiding, as tycoons took over and reorganised poorly managed businesses

112
Q

what started to become present in this period

A

good advertising - a number of American advertising firms set up headquarters in London

113
Q

what industry was changing

A

the mining industry

114
Q

how did the mining industry change

A

the introduction of large super pits provided the opportunity to use modern, safer technology, but also led to the loss of 200,000 jobs

115
Q

what industries expanded significantly

A

aircraft and chemical industries

116
Q

what did Home’s government do

A

they abolished the system of resale price maintenance, which had allowed manufacturers and suppliers to set the retail price of their goods

117
Q

what was opened in December 1958

A

the 8 mile Preston bypass

118
Q

how many miles of motorways were built by 1964

A

300 miles

119
Q

what was the Preston bypass

A

the first new major road in Britain for 20 years

120
Q

why were large amounts of motorways built

A

years of pressure, including a 1941 cabinet committee report criticising existing congested roads

121
Q

what did Frederick Cook’s 1942 memorandum do

A

it argued that motorways would both help industry and improve road safety

122
Q

what was opened in 1959

A

67 miles of the M1

123
Q

what did the new parts of the M1 include

A

the country’s first service stations - Newport Pagnell and Watford gap

124
Q

who was the transport minister

A

Ernest Marples

125
Q

what new things were introduced

A

parking meters, yellow lines and Britain’s first major roundabouts

126
Q

what did Dr Richard Beeching publish

A

the controversial ‘the reshaping of Britain’s Railways’ in March 1963

127
Q

what did Dr Richard Beeching say in the reshaping of Britain’s Railways

A

he recommended the closure of one-third of the existing routes, 2361 stations and 5000 miles of track

128
Q

where was the most significant change

A

the growth of the car industry

129
Q

what businesses were merged

A

Austin Motor Company and Morris motors

130
Q

what was the Merger of Austin and Morris called

A

the British Motor Company in 1952

131
Q

which car was the most popular of the British Motor Company

A

the Morris minor

132
Q

what was the morris minor the first car to do

A

sell over a million cars

133
Q

who designed the morris minor

A

Alec Issigonis

134
Q

how much did Morris Minor cost

A

£350

135
Q

who was the owner of the BMC

A

Lord Nuffield

136
Q

what car was introduced in 1959

A

the mini

137
Q

why was the mini attractive for British consumers

A

its small size and fuel economy

138
Q

why were industrial investment and expansion limited

A

‘stops’ and the cost of Britain’s nuclear programme

139
Q

Why did the British textile industry decline

A

India

140
Q

Where did the major economic threats come from

A

West Germany, the USA and Japan

141
Q

What happened to West Germany’s share of world trade

A

buoyed by US investment, it grew nearly four times as fast as Britain’s

142
Q

where did japan outperform Britain

A

shipbuilding, camera and electronics technologies and motorcycle production.

143
Q

what demonstrated Japan’s increasing advantage

A

the growth of Honda, Kawasaki and especially Yamaha, with its popular Suzuki model

144
Q

what happened in Japan in the 1950s

A

it was producing an average of 500,000 motorcycles a year, compared with the British average of 140,000

145
Q

what were British industrialists scared to do

A

embrace change

146
Q

how is the reluctance to accept change shown

A

of the 300,000 British companies that existed, only 1% were listed on the stock market

147
Q

what did Macmillan and the other conservatives dislike

A

self-made entrepreneurs

148
Q

what was the change in GDP during the period

A 
France - 5%
Italy - 5.1%
Japan - 9.5%
UK - 2.7%
USA - 3.7%
West Germany - 5.7%
149
Q

what was the change in exports during the period

A 
France - 8.1%
Italy - 11.7%
Japan - 15.4%
UK - 4.1%
USA - 5.1%
West Germany - 10.8%
150
Q

who was the president of the board of trade from 1945 to 1947

A

Stafford Cripps

151
Q

what was the priority of Stafford Cripps

A

the promotion of new tech

152
Q

what did Stafford Cripps do

A

he commissioned the council of industrial design to stage the ‘Britain Can Make it’ exhibition at the V&A museum in September 1946

153
Q

how many people visited Britain Can Make it exhibition

A

1.4 million people visited, including 43,000 trade visitors and 7,000 trade buyers from 67 countries, leading to orders totalling more than £35 million

154
Q

what did ‘Britain can make it’ exhibition show

A

despite the austerity of the Attlee years, it highlighted the encouraging progress that was being made in the technological field

155
Q

where did British technology improve rapidly

A

the production of industrial glass and in the chemicals industry

156
Q

what is a sign that British technology was both effective and competitive

A

the start of the offshore gas industry

157
Q

what happened in 1956 with the industry

A

the nuclear power station at Calder Hall was connected to the National Grid, becoming the first nuclear power station to provide energy commercially

158
Q

what did the Calder Hall use

A

a magnox gas-cooled reactor, using cutting edge technology

159
Q

what project proved a major development in technology

A

the Concorde project

160
Q

what did the Concorde project involve

A

cooperation with British aerospace and aérospatiale designed the airframe whilst Rolls-Royce and the French firm Snecma developed the jet engines

161
Q

what was a watershed moment in air travel

A

2nd march 1969 - concordes first flight

162
Q

what was the maximum cruising speed of the Concorde

A

1354 miles per hour

163
Q

how long did it take the Concorde to go from London to new york

A

three hours

British History HLS (38 decks)

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