Churchill Flashcards
How old was Churchill in 1951?
77
What was the Tory majority in 1951 and why was it an issue?
17 MPs which made it hard to pass legislation
What was the balance of payments deficit?
£700 million
How many houses did Harold MacMillan pledge to build and did they succeed?
They aimed to build 300,000 a year. They made £318,750 in 1952-53
How much of the housing was social housing?
30%
What was a disadvantage of the new housing?
That the houses were lower quality and standards for housing were reduced
Who was housing minister?
Harold MacMillan
Who was health minister?
Ian MacLeod
What were prescription charges increased to?
2 shillings
How much was spent on welfare?
£2416 million an increase from £1963 million
When was the Education Act?
1944
Why did education see little development?
Because it was a low priority compared to housing, defence or health
How many fewer students was there in 1954?
3000 fewer
Define mixed economy
An economic system combining state and private and state enterprise
What was nationalised under Churchill?
Newly created Atomic Energy Authority
What was denationalised?
Iron and steel in 1953
Who was the Minister of Labour?
Monckton
What was the conservative view on trade unions and why was it an issue?
To avoid confrontation and pursue industrial peace however this led to dramatic rises in wages which badly affected inflation
What was the balance of payments surplus in 1952?
£250 million
When did rationing end?
1954
What was income tax reduced by?
6p
Who was chancellor?
RAB Butler
Define stop go economics/Keynesian economics
Stop - when imports exceed exports, inflation is too high and the BOP deficits begin to pile up then there are tax and rate increases and wage freezes which makes demand fall to stop inflation
Go - when output decreases then the controls are removed and there are higher wages and demand which creates natural growth and then tax and rate cuts also simulate growth and a need for more imports
What is a criticism of this economic strategy?
That it is only a short term solution to inflation so was called ‘13 wasted years’
