economic dominance 51-64

Question 1

stop of the stop go economics

Answer 1

issues = economy overheating, high inflation and balance of payments deficit. cause = wage rising more than production, imports exceeding export. solutions = interest rates increased, wages frozen, tax rises

Question 2

go of the stop go economics

Answer 2

issues - full of consumer demand, danger of unemployment. Cause= interest rates increase, wages frozen, tax rises. solutions= interest rates cuts, tax cuts, unfreeze wages, full employment,

Question 3

under Churchill

Answer 3

R.A Butler was chancellor and he ended rationing, had full employment, low inflation, no balance of payments problem, low taxes and rising prosperity. there was also a rise in living standers as the national income was 40% higher in 1955 then 1950 and the rise in the accumulation of personal saving had an increase on home ownership

Question 4

under Eden

Answer 4

Chancellor was Heathcoat Armery, 1959 there were budget saving tax cuts with a notable reduction of the standerd rate of income from 42.5% to 38.7%. bank rate had been cut to 4% and the economy grew in real terms by 4%

Question 5

trade union relations

Answer 5

all of the PMs during 51-64 had good relations with the unions which ensured few strikes and money loss due to strike action. however they refused to re-enact the 1927 trade union act dispute pressure from the back benches and the 9.53 million members of both trade unions and conservative party.