First EEC Application Flashcards
What was the first EEC application symbol of
-Br failure being about economic modernisation
-to address this National economic development council set up by Selwyn Lloyd - convicted govt representatives + trade unionists
-national incomes commission keep eye on wages + prices added 1962
What was the issue with EEC application
-rejected jan 1963 + serious setback for mac economic policies
-Heath claimed never saw mac as depressed as was after De Gaulle veto
-Beeching report autumn 1963 as result + review into cutting public expenditure
What did the beeching report suggest
-cuts Br rail network — closure over 30% rail network led to public outrage
-hundreds branch lines + thousands stations axed led to fundamental social change
-loss of govt wave of prosperity + economic success
What did Maudling the new chancellor of exchequer do
-pushed economy into ‘go phase’
-lowered bank rate to encourage consumer spending
-Br growth rate 4% 1963 to 6% 1964
-exports rise over 10% 1961-64 but imports still 20% higher
