Chapter 10- labour governments of Wilson and Callaghan Flashcards
what economic state did Wilson inherit
15% inflation
balance of payments deficit of £3 billion
when did Wilson call a new election
October 1974
what were the results of the October 1974 election
labour- 39.2%. 319 seats
conservative 35.9%. 277 seats
what contract did Wilson negotiate while in opposition
the social contract
what did the social contract include
voluntary pay restraint by u unions in return the industrial relations act would be repealed
what did the social contract result in
an agreement reached with the NUM which ended the strike
what was set up in 1974 under Tony Benn
National enterprise board
what caused controversy in 1974
government nationalised the failing car manufacturer British Leyland
went against ignoring lame duck industries
what did Callaghan call the the ‘twins of evil’
unemployment and inflation
what did Callaghan do to avoid a run of the pound
applied for IMF loan
when did the IMF loan come through
december 1976
how much was the IMF loan
3 billion
what did Britain have to do in response to IMF loan
cut public spending
what were the economic effects of IMF loan
economy recoveredw
what were the political effects of IMF loan
showed Britain to be in decline
conservatives declared it an international humiliation
what helped to I prove economy under callaghan
North Sea oil
how many North Sea oil plants were there in production by 1978
9
how had number of days lost to industrial action changed by 1978
at the lowest for 10 years
how did the labour government strengthen the government after majority in commons disappeared in 1977
lib lab pact
what were the terms of the lib lab pact
12 liberal MP’s would vote for the govt in parliament in a vote of no confidence orchestrated by conservatives and labour would go ahead with devolution referendums
what were the results of the devolution referendums
scotland- 51.6% for 48.4% against
Wales- 20.3% for 79.7% against
why did the majority for devolution in Scotland not count
labour mp inserted clause into devolution pact that at least 40% of electorate must be for for a majority
what did the TUC reject in autumn 1978
government proposal for 5% wage increase
what did ford lorry drivers achieve in december 1978 after a nine week strike
15% pay increase