Economic Developments: Inflation, Trade Union Relations, Healey's Budget Flashcards
What does NEB stand for?
National Enterprise Board
What was the aim of the NEB?
Modernise Lame Duck Industries
What year was the NEB created?
1975
What year did the British National Organisation find oil in the North Sea?
1976
How much was the British National Oil Corporation worth a year by 1979?
£1 billion a year
What did the British National Oil Corporation help to reduce?
The balance of payments deifict
What was the Balance of Payments deficit in 1976?
£1 billion
In what year was inflation at 19%?
1974
What was inflation at in August 1975?
30%
What pay rise did Labour give miners in 1974?
35% pay rise
What pay rise did Labour give miners in 1975?
35% pay rise
How much did the pay rise of miners cost Britain?
£100 million
By what percentage did the price of eggs go up by from 1973 to 1974?
30%
What did Labour try to allow unions to do with pickets?
Allow trade unions to stop vehicles from driving
What did Roy Jenkins think about union picket power expansion?
He opposed it
What did Healey put the highest rate of income tax to in 1975?
83%
What percentage of the British workforce were unemployed in 1974?
600,000 people
What percentage of the British workforce were unemployed in 1976?
1.5 million
What percentage of the British workforce were unemployed in 1979?
1 million
What was the purpose of the 1975 Employment Protection Bill?
To try and improve Trade Union relations
What was the purpose of the 1975 Sex Discrimination Act in relation to Labour?
To improve Trade Union relations
