economic specific facts 1964-1970

Question 1

Wilson’ belief on who caused the trade deficit

Answer 1

industrial troubles

Question 2

when did the UK approach the IMF

Answer 2

1967

Question 3

what does the IMF stand for?

Answer 3

international monetary fund

Question 4

when was the last time the UK had approached the IMF for a loan?

Answer 4

1964

Question 5

when did Wilson devalue the pound?

Answer 5

1967

Question 6

what did Wilson devalue the pound to?

Answer 6

$2.80 to $2.40

Question 7

balance of payment deficit in 1963

Answer 7

-71 million

Question 8

balance of payment deficit in 1967

Answer 8

-461 million

Question 9

balance of deficit 1969

Answer 9

+402 million

Question 10

who ran the department of economic affairs?

Answer 10

George Brown, also deputy Labour leader

Question 11

how many days were lost in 1963 due to industrial strikes?

Answer 11

1,755,000

Question 12

how many days were lost in 1970 due to industrial strikes?

Answer 12

10,980,000

Question 13

The National Plan

Answer 13

Drawn up by George Brown. Encouraged cooperations between governments, employers and trade unions

Question 14

The Declaration of Intent

Answer 14

an agreement to hold down wages and prices

Question 15

what was the average growth rate in 1965?

Answer 15

2.2%

Question 16

when did the DEA end?

Answer 16

1969

Question 17

what industries were nationalised

Answer 17

1967-British Steel Corporation
1969-National Bus Company
1969-Post Office Corporation

Question 18

what did Wilson warn trade unions in 1963?

Answer 18

they should be more realistic in approach to wage demands

Question 19

what did Wilson think the 1966 election gave him?

Answer 19

a mandate (popular backing for a particular policy)

Question 20

when was ‘In Place of Strife’ proposed?

Answer 20

1969

Question 21

who was IPoS introduced by?

Answer 21

Barbara Castle

Question 22

what was introduced in 1968 and how long did it last for?

Answer 22

Girobank, the people’s bank which lasted until 2003

Question 23

what did IPoS introduce?

Answer 23

a series of legal restrictions on the right to strike

Question 24

where was the UK ranked in terms of GNP in 1965

Answer 24

12th

Question 25

what did unemployment increase to between 1964-1970?

Answer 25

1.8% to 2.8%