Economic - Key Facts Flashcards
Amount that Thorneycroft cut taxes in the 1957 Budget
£100 Million
Percentage of the Bank Rate in September 1957
7%
Name the press gave to the Stop-Go Cycle
Master Boom and Miss Slump
Groups that striked in 1957
- Shipyards
- Engineers
- Power Workers
What did Thorneycroft want during the Treasury Crisis
Credit Squeeze
Who resigned as a result of the Treasury Crisis
- Thorneycroft
- Birch
- Powell
Percentage of Bank Rate under Heathcoat-Armory
4%
Cuts in income tax under Heathcoat-Armory
9p to the £
Item that reduced 2p in price under Heathcoat-Armory
Beer
Amount that tax cuts totalled under Heathcoat-Armory
£370 Million
What did Lloyd have to introduce to stop wage inflation
Pay Pause
Percentage added to purchase tax
10%
Percentage of Bank Rate under Lloyd
7%
Name of the council set up to promote better cooperation between the government and the trade unions
National Economic Development Council
Neddy
Percentage of people unemployed
2.8%
Name of the commission to keep an eye on wages and prices
National Incomes Commission
Nicky
Percentage that imports remained higher than exports
1961 to 1964
20%
Amount of public money injected into the economy
Maudling
£330 Million
Growth rate increase from 1963 to 1964
4% to 6%
Percentage that exports grew between 1961 to 1964
10%
Name of the report that was published as part of a review into cutting public expenditure
Beeching Report
Percentage of the railway network that was closed under the Beeching Report
30%
Proportion of national income tax fell to …
26%
How many times more did Welfare benefits rise compared to prices
Three times as fast
