Economic Developments: Affluence Restrictions, Social Collapse, Devaluation Flashcards
When did Healey introduce his budget to reduce public spending and increase import controls?
April 1975
What was the impact of Healeys budget on the public?
It restricted their affluence heavily
What was a popular programme at this time about the end of the world?
Survivors
Who was the main villain in Survivors? What did this reflect?
A former militant Trade Unionist. It reflected the views at the time of having too much militance in Trade Unions
Who was an older man that was worried about the collapse of Britain?
General Walker
Which age of people followed what General Walker said?
Older men
What did Walker plan to do if there was a civil war?
Seize control over many important British industries such as the Heathrow Airport and the BBC
What was one problem with Walkers plan for if there was a civil war?
He did not have the power to seize these businesses
What did a BBC poll in 1975 show about what people felt about a societal collapse?
2/3 of people believed that Britain would experience a collapse
What was significant about what Callaghan said in relation to the collapse of Britain?
He said that if he was younger, he would emigrate
What was significant about the amount of emigrants compared to immigrants in the 1970’s?
There were more emigrants than immigrants
What did increased emigration put pressure on?
The value of the pound
What happened to the pound in March 1976? Why was this significant?
Fell below $2, significant as this was the first time in history this had happened
What did the fall in value of the pound impact?
Import prices
How much of the pounds value was lost in 1976?
The pound lost 1/4 of its value
