Chapter 2 - key dates and stats Flashcards
How much did Britain increase industrial production between 1952 and 1959, compared with West Germany?
101 -> 129 UK
126 -> 225 West Germany
In the Butler budget, 1955, how much was given away in tax cuts?
£134 million
What was unemployment in 1955?
200,000, <1% of the workforce
By 1960, how many were employed in services?
5 million, 1 in 5 people.
How did the population change between 1951 and 1961?
49 million to 51 million
How did the overall trade balance change from 1951-55 to 1956-60?
-19 to +132
What was worker productivity by 1960, compared with France and Germany?
125 UK
159 German
177 French
What did pressure from the US over Suez cause?
A run on the pound
In 1958, who resigned over splits between Peter Thorneycroft and Ian McLeod?
Thorneycroft, Enoch Powell and Nigel Birch
What did the April 1959 budget provide in tax cuts?
£370 million
When did the Conservatives ask for an IMF loan?
1961, to hold down wage inflation
What did Selwyn Lloyd do to bring about economic modernisation?
Created the National Economic Development Council and National Incomes Commission in 1962
In Autumn 1963, what did the Beeching Report recommend?
Closure of over 30% of the rail network.
What did Reginald Maulding do to enter a ‘go’ phase in 1963?
Lowered the bank rate to encourage spending.
The growth rate increased from 4% in 1963 to 6% in 1964.
Despite this:
Exports rose over 10% between 1961 and 1964, but imports remained 20% higher.
