Britian: Thatcher and Major 1979-97

Question 1

Economy: What did inflation decrease from 1980-83?

Answer 1

18% in 1980 to 4.5% by 1983

Question 2

Economy: How much did Howe reduce direct tax?

Answer 2

From 83% to 60%

Question 3

Economy: How much did VAT increase to due to Howe’s policy of shifting tax?

Answer 3

VAT increased to 15%

Question 4

Economy: How much did manufacturing output fall by?

Answer 4

14%

Question 5

Economy: How much did unemployment rise to?

Answer 5

3 million

Question 6

Economy: Due to privatisation how much did British Telecom shareholders increase to by 1990?

Answer 6

3 million in 1979 to 11 million in 1990

Question 7

Economy: How many council houses were sold and how much revenue did this raise for the government?

Answer 7

1 million sold, raised 19 million for government.

Question 8

Economy: Under Lawson 1983-89 how much did income tax reduce?

Answer 8

60% to 40%

Question 9

Economy: How much did the average tax bill rise under Thatcher?

Answer 9

6%

Question 10

Economy: When was the Financial Services Act and what did it do?

Answer 10

1986- deregulated City of London’s stock market, created the big bang of October 1986

Question 11

Economy: What did household debt rise to as a result of deregulation ?

Answer 11

£16 billion in 1980 to £47 billion in 1989