Economic Developments: Brown as Chancellor of the Exchequer Flashcards
What did Brown promise to do for the first 2 years Labour were in power?
Follow Conservative spending policies
Name one privatisation Labour did and the year it occurred
Digital channels were privatised in 2000
How much money did the privatisation of digital channels generate?
£22 billion
What year did Brown implement fuel tax?
2000
What happened to fuel prices in September 2000?
They rose heavily
What did lorry drivers do as a response to rising fuel prices?
They blocked off oil refineries
How much money was generated from an anti-monopoly tax Brown implemented?
£5 billion
What was all of the money generated from the anti-monopoly tax dedicated to funding?
Schemes for youth employment
What was a positive long-term impact of the investments in youth employment from the anti-monopoly tax?
By 2005, over 500,000 youths were now in jobs
What act was passed for the benefit of working families in 1999?
Working Families Credit Act
What was a limitation of the Working Families Credit Act by 2001?
500,000 eligible people had not signed up to it
When did Labour implement a universal minimum wage?
1999
What did Labour set minimum wage to for 18-21 year olds in 1999?
£3 an hour
How many workers experienced a pay rise from the introduction of universal minimum wage?
2 million
When did Labour ban fees for going into museums and art galleries?
2001
