Economic Development through the period of conservative dominance

Question 1

What was to be the basis of the so called ‘post war consensus’?

Answer 1

Victory in the war and the sacrifice that enabled this should lead Britain to a better, fairer Britain in the future

Question 2

List 5 positives which came from the post war boom

Answer 2

Food rationing ended in 1954

The global economy was booming, this encouraged oversees trade which brought high levels of earning from exports and investments

By 1955 it was estimated that full employment was achieved, with only 200, 000 unemployed - less than 1% of the work force

Economic growth and low unemployment made way for raising wages

Rab Butler gave £134 million tax cuts to the middle classes in his ‘give away’ this boosted elec ion prospects

Question 3

In short, why were the late 1950’s a time of optimism?

Answer 3

The British enjoyed more jobs, more money, more good and the new provisions of the new welfare state.
Adults, who were accustomed to war time austerity suddenly found them selves with money to spend on cars and holidays to the coast