Economic Developments: Union membership, Inequality, PFI's Flashcards
What fraction of the British workforce were in Trade Unions by 2006?
1/6
What was the significance of how low Trade Union membership was in 2006?
It was the lowest it had been since 1945
How many months after becoming Prime Minister did Tony Blair first meet with the head of the TUC?
6 months after
What year was the TGWU expelled from the Labour party?
2004
Why were the TGWU expelled from the Labour party?
They were caught funding left-wing groups
What percentage of the total share of wealth did the top 10% own in 1997?
Owned 63% of the share of wealth
What percentage of the total share of wealth did the top 10% own in 2003?
Owned 71% of the share of wealth
What was the combined networth of the 1000 richest British people in 1997?
£100 billion
What was the combined networth of the 1000 richest British people in 2007?
£350 billion
When was the Working Families Credit Act passed?
1999
What did the Working Families Credit Act do?
It gave people more money onto their pay checks
How many children were brought out of poverty in Brown’s March 2000 budget?
2 million children
How many pensioners were brought out of poverty in Brown’s March 2000 budget?
3 million pensioners
What did Labour introduce with wages to help reduce inequality?
National Minimum Wage
How many people got a pay rise due to the introduction of national minimum wage?
2 million people
What year was National Minimum Wage introduced?
1998
What was National Minimum Wage initially at for 22+ year olds?
£3.60 an hour
Why did Blair increase National Minimum Wage every year?
To help people continue to support their lives
What was National Minimum Wage at in 2007?
£5.50 an hour
What was the value of all PFI’s in 2007?
£70 billion
How much were PFI’s expected to cost taxpayers in the future from 2007 onwards?
£200 billion
