Britain Period Study Flashcards
when was churchill Pm 2nd time
1951-55
when was anthony eden PM
1955-1957
When was harold macmillan PM
1957-1963
when was douglas home PM
1963-64
When was rationing ended-
1954
What is GDP
gross domestic product: The total value of goods produced and services provided in a country
-Increases majorly by 1954 but not as good as other countries
two main factors in rising of living standards CD
-wages rose faster than prices
-Cutting income tax before elections- increasing money people had to spend, car and tv ownership increased
what is credit and how did it help? CD
-People were able to borrow money and make small monthly repayments
-There by able to buy things they previously couldnt, alongside tax cuts there was a cosumer boom, people going abroad for the first time
how many houses built over time in office CD
1.7 million
How did housing improve under CD
-more houses built
-new homes + 1957 rent act meant waiting lists for housing declines
-Rent act, made more housing available to rent, abolishing rent controls
-more people owning property 25% up to 44% in 1964
what did macmillan say
our people never had it so good
what was the economic policy during CD
increased broowing allowed more gov spending on things like:
-health
-education
-housing
-the welfare sate
What is butskellism
combine policies of Butler and Hugh gaitskell
-Both favoured a mixed econoy and a welfare state and full employment
-Approach continued under macmillan to avoid inflation and deflation
What is inflation
a general increase in prices and fall in the purchasing value of money
what is deflation
Reduction of the general level of prices in an economy
What is stagflation
where industrial output decline as well as employment but inflation remained
Stop go econonomics under CD, what is it?
Government simply responded to economic developments rather than developing a strategy that created consistent growth
What policied during CD helped economic growth?
-credit and housing improbving living standards
-Also natural recovery from WW2 and korean war and the move from a period of austerity contributed to economic recovery
where were the policies that hindered economic growth CD
-industry
-trade
unemployment under macmillan
-never able to get figure below 250,000
-Questioned whether it was a time of prospherity
what was the argument against the rise in living standards CD
-The success of the gov was built on heavy gov borrowing and consumer credit which was economically dangerous
-Argued that the policies hindered growth and prevented securing a strong economic base
How important was social policy CD
-war brought about massive change
-conservatives needed to adapt after 1945
-class divisions weakened
-this was reinforced by welfare state and growing affluence
what did CD change in education
-more comprehensive schools
-Showed they were willing to change
-Expanded unis and provided bigger grants
What was the homocide act
-1957, accelerated process of ending death penalty