Economic - Key Facts

Question 1

Amount that Thorneycroft cut taxes in the 1957 Budget

Answer 1

£100 Million

Question 2

Percentage of the Bank Rate in September 1957

Answer 2

7%

Question 3

Name the press gave to the Stop-Go Cycle

Answer 3

Master Boom and Miss Slump

Question 4

Groups that striked in 1957

Answer 4

• Shipyards
• Engineers
• Power Workers

Question 5

What did Thorneycroft want during the Treasury Crisis

Answer 5

Credit Squeeze

Question 6

Who resigned as a result of the Treasury Crisis

Answer 6

• Thorneycroft
• Birch
• Powell

Question 7

Percentage of Bank Rate under Heathcoat-Armory

Answer 7

4%

Question 8

Cuts in income tax under Heathcoat-Armory

Answer 8

9p to the £

Question 9

Item that reduced 2p in price under Heathcoat-Armory

Answer 9

Beer

Question 10

Amount that tax cuts totalled under Heathcoat-Armory

Answer 10

£370 Million

Question 11

What did Lloyd have to introduce to stop wage inflation

Answer 11

Pay Pause

Question 12

Percentage added to purchase tax

Answer 12

10%

Question 13

Percentage of Bank Rate under Lloyd

Answer 13

7%

Question 14

Name of the council set up to promote better cooperation between the government and the trade unions

Answer 14

National Economic Development Council

Neddy

Question 15

Percentage of people unemployed

Answer 15

2.8%

Question 16

Name of the commission to keep an eye on wages and prices

Answer 16

National Incomes Commission

Nicky

Question 17

Percentage that imports remained higher than exports

1961 to 1964

Answer 17

20%

Question 18

Amount of public money injected into the economy

Maudling

Answer 18

£330 Million

Question 19

Growth rate increase from 1963 to 1964

Answer 19

4% to 6%

Question 20

Percentage that exports grew between 1961 to 1964

Answer 20

10%

Question 21

Name of the report that was published as part of a review into cutting public expenditure

Answer 21

Beeching Report

Question 22

Percentage of the railway network that was closed under the Beeching Report

Answer 22

30%

Question 23

Proportion of national income tax fell to …

Answer 23

26%

Question 24

How many times more did Welfare benefits rise compared to prices

Answer 24

Three times as fast

Question 25

What was Britain 2nd in the world for

Answer 25

Higher income per head

Question 26

Leader of the TUC

Answer 26

Frank Cousins

Question 27

Number of working days lost to strikes in 1957

Answer 27

8.5 Million

Question 28

Percentage incomes were rising annually

Answer 28

7%

Question 29

Name of the report that highlighted too much British capital investment was going abroad rather into British firms

Answer 29

Radcliffe Report