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History - Labour 1964-70 > Economic Developments: Economic Management from 1964-70 > Flashcards

Economic Developments: Economic Management from 1964-70 Flashcards

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1
Q

What was happening with Britains industrial state?

A

It was becoming a post-industrial nation

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2
Q

What would Britain being post-industrial mean?

A

Manufacturing industry would shrink

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3
Q

What Percentage of Britain’s R&D funds went to military expenses?

A

34.5%

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4
Q

What percentage of Japan’s R&D funds were spent on military expenses?

A

0.9%

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5
Q

What was France’s R&D expenditure on military?

A

Around 25%

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6
Q

How much did Harold Wilson request from the IMF in 1964?

A

£1 Billion

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7
Q

Who were Britain immensely in debt to in the 1960’s?

A

America

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8
Q

What did the Labour Manifesto focus on with technology?

A

Embracing ‘white heat’ of technology to modernist industry. Increase welfare and school spending

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9
Q

What put an end to Labour’s Manifesto promises?

A

Balance of Payments Deficit of around £800 million

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10
Q

What was happening to Britain’s society in terms of class?

A

Britain was becoming a classless society

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11
Q

How did Wilson involve himself with modern Britain?

A

Gave The Beatles MBE’S Met famous actors such as the cast of Coronation Street

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12
Q

What is a building that can show embracing technology? When was it finished? What did it use?

A

Post Office Tower, finished in 1965 and used telecommunication

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13
Q

What British city was at the forefront of drastic modernisation?

A

Birmingham

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14
Q

What happened to slums at the center of Birmingham?

A

They were cleared to make way for a large shopping center

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15
Q

What did Maudling say to Callaghan when he left his job?

A

He wished him good luck

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16
Q

What would happen to foreign British military bases in the next 5 years?

A

They would start to disappear as they were too expensive

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17
Q

What is the term referring to the military bases in places such as Malaysia?

A

East of Suez

18
Q

Who did Wilson trust to lead the DEA?

A

George Brown

19
Q

What did Wilson do with Callaghan and Brown?

A

Set them against each other as they were partially competing for the same job

20
Q

What was the Treasury planning to do with the DEA?

A

Get rid of it before it could even begin

21
Q

What did the Treasury Plan?

A

Move all of the people who should have worked in the DEA to other places

22
Q

What was the DEA’S national plan?

A

Introduced a prices and incomes policy

23
Q

What happened with the DEA and it’s plan?

A

The plan was not used and the DEA by 1967 was silently abandoned

24
Q

What was the impact of the prices and incomes policy that was instead announced?

A

Resulted in National Union of Seamen striking

25
Q

When did the National Seamen Strike start? (To the day)

A

May 16th 1966

26
Q

What pay rise did the Seamen want?

A

17%

27
Q

What pay rises did the government usually give out?

A

3.5%

28
Q

Why did Wilson often put members of his government against each other?

A

So they could focus on that instead of possibly taking Wilson’s role in the government

29
Q

What did Wilson increase Labour seat majority to in 1966?

A

96 seats

30
Q

What war occurred in 1967?

A

Arab-Israeli war

31
Q

How much was average economic growth per year in this period?

A

2.5%

31
Q

What was the impact of the foreign war?

A

Suez Canal was closed until 1975

32
Q

As well as the 1967 war, what were Britain dealing with at home in terms of strikes?

A

NUS were on Strike

33
Q

What did Labour try and do to counter the run on the pound in 1967 with interest rates?

A

They rose the interest rates to 16%

34
Q

How much did Labour devalue the pound in 1967?

A

By 14%

35
Q

How much higher were wages and prices in 1966 compared to 1964?

A

Prices 8% higher in 1966 Wages 11% higher in 1966

36
Q

Who was initially in charge of the Ministry of Technology?

A

Frank Cousins

37
Q

What was a limitation of Ministry of Technology leadership?

A

Frank Cousins had little experience with technology

38
Q

What are some examples of public industries embracing technology?

A

Telephone services used telecommunication more

39
Q

Who replaced Frank Cousins? What were they like?

A

Wedgewood Benn, they were an enthusiastic modernist

40
Q

What is an example of Wedgewood Benn’s modernisation projects?

A

He oversaw the creation of Concorde

41
Q

How much did Ministry of Tech spend a year on research establishments? How many were there?

A

£400 million a year 17 research establishments

History - Labour 1964-70 (41 decks)

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