Economic Developments: Economic Management from 1964-70 Flashcards
What was happening with Britains industrial state?
It was becoming a post-industrial nation
What would Britain being post-industrial mean?
Manufacturing industry would shrink
What Percentage of Britain’s R&D funds went to military expenses?
34.5%
What percentage of Japan’s R&D funds were spent on military expenses?
0.9%
What was France’s R&D expenditure on military?
Around 25%
How much did Harold Wilson request from the IMF in 1964?
£1 Billion
Who were Britain immensely in debt to in the 1960’s?
America
What did the Labour Manifesto focus on with technology?
Embracing ‘white heat’ of technology to modernist industry. Increase welfare and school spending
What put an end to Labour’s Manifesto promises?
Balance of Payments Deficit of around £800 million
What was happening to Britain’s society in terms of class?
Britain was becoming a classless society
How did Wilson involve himself with modern Britain?
Gave The Beatles MBE’S Met famous actors such as the cast of Coronation Street
What is a building that can show embracing technology? When was it finished? What did it use?
Post Office Tower, finished in 1965 and used telecommunication
What British city was at the forefront of drastic modernisation?
Birmingham
What happened to slums at the center of Birmingham?
They were cleared to make way for a large shopping center
What did Maudling say to Callaghan when he left his job?
He wished him good luck
What would happen to foreign British military bases in the next 5 years?
They would start to disappear as they were too expensive
What is the term referring to the military bases in places such as Malaysia?
East of Suez
Who did Wilson trust to lead the DEA?
George Brown
What did Wilson do with Callaghan and Brown?
Set them against each other as they were partially competing for the same job
What was the Treasury planning to do with the DEA?
Get rid of it before it could even begin
What did the Treasury Plan?
Move all of the people who should have worked in the DEA to other places
What was the DEA’S national plan?
Introduced a prices and incomes policy
What happened with the DEA and it’s plan?
The plan was not used and the DEA by 1967 was silently abandoned
What was the impact of the prices and incomes policy that was instead announced?
Resulted in National Union of Seamen striking
