economic specific facts 1964-1970 Flashcards
Wilson’ belief on who caused the trade deficit
industrial troubles
when did the UK approach the IMF
1967
what does the IMF stand for?
international monetary fund
when was the last time the UK had approached the IMF for a loan?
1964
when did Wilson devalue the pound?
1967
what did Wilson devalue the pound to?
$2.80 to $2.40
balance of payment deficit in 1963
-71 million
balance of payment deficit in 1967
-461 million
balance of deficit 1969
+402 million
who ran the department of economic affairs?
George Brown, also deputy Labour leader
how many days were lost in 1963 due to industrial strikes?
1,755,000
how many days were lost in 1970 due to industrial strikes?
10,980,000
The National Plan
Drawn up by George Brown. Encouraged cooperations between governments, employers and trade unions
The Declaration of Intent
an agreement to hold down wages and prices
what was the average growth rate in 1965?
2.2%
when did the DEA end?
1969
what industries were nationalised
1967-British Steel Corporation
1969-National Bus Company
1969-Post Office Corporation
what did Wilson warn trade unions in 1963?
they should be more realistic in approach to wage demands
what did Wilson think the 1966 election gave him?
a mandate (popular backing for a particular policy)
when was ‘In Place of Strife’ proposed?
1969
who was IPoS introduced by?
Barbara Castle
what was introduced in 1968 and how long did it last for?
Girobank, the people’s bank which lasted until 2003
what did IPoS introduce?
a series of legal restrictions on the right to strike
where was the UK ranked in terms of GNP in 1965
12th
what did unemployment increase to between 1964-1970?
1.8% to 2.8%
