Economic Developments 1951 - 1964 Flashcards
Food rationing ended in…
1954
Prosperity increased due to an increase in ____
Trade and exports
During the baby boom, there was a _% population increase
5%
Rising consumer demand led to…
Virtually full employment
Less than _% of the workforce was unemployed by 1955
1%
_____ industry expanded rapidly
Services
By ____, nearly __% of the population were employed in the service industry
1960
20%
In 1951 to 1964 there was a strong sense of…
Affluence
Wages rising faster than production led to…
Inflation
The conservatives were locked in a cycle of…
Stop-go policies
In 1956 the Suez Crisis led to…
A run on the £
Britain had to ____ in 1961
Ask the IMF for a loan
Macmillan’s application to ___ was denied in ____
Join the EEC
1961
The stop-go polices were…
Short term solutions
What economic planning forum was set up in 1962 and why?
The National Economic Development Council (NEDC or ‘Neddy’)
To bring together management, trades unions, and government
What was set up to regulated wage increases in 1962?
National Incomes Commission (NIC or ‘Nicky’)
Between ____ and ____, house building rose __%
1952 and 1955
50%
There was an economic boom ___ to ___
1958 to 1960
Unemployment had risen to ____ by ____
500,000
1958
In total ____ houses were built
1.7 million
Britain’s income per head in 1959 was the ____ highest in the world
Second highest
The economy grew __% from ____ to ____, but compared to West Germany’s ___% this was fairly low
29%
1951 to 1959
125%
Butler’s election tax cuts of ___ in ____ was blamed for ___
£134 million in 1955
Blamed for over heating the economy
Disagreements between trade unions and Conservatives led to the number of days lost to strikes rising from ___ in ___ to ___ in ___
Rose from 2 million in 1956 to 8.5 million in 1957
