Britain's in decline

Question 1

In the 19th century, what was the phrase coined to describe Britain’s industrial prowess?

Answer 1

“The workshop of the world”.

Question 2

In the late 60s, what was the term coined to describe Britain’s financial’s state?

Answer 2

“The Sick Man of Europe”

Question 3

When and what was the Suez Canal crisis ?

Answer 3

1956. Nasser wanted the Canal to belong to Egypt, who had recently become independent. It previously belonged to Britain and France. The USA insisted that they let Nasser have it, and they both complied. This meant that the leading global power had shifted from Europe to the USA.

Question 4

Was Britain in an absolute or relative economic decline.?

Answer 4

A relative decline, as there had never been an absolute economic decline, Britain’s GDP having known a consistent growth throughout the 20th century.

Question 5

What were the main reasons for Britain’s economic decline?

Answer 5

• Sectoral shifting (post industrial to service)
• Globalisation (competition from NICs)
• Natural processes (other countries had had economic boosts, but not Britain )
• Impact of the 2 world wars and of the great depression
• World power aspirations and defence
• Poor Management (no pressure to modernise)
• Government policy (a lack of continuity in gov. planning)
• Trade unions (worker management relations very poor)
• Consumerism (inflation)
• Oil crisis 1973