Key Terms for 1951-64 Conservative Era Flashcards
Define first past the post
The party or candidate with the most votes wins the election
What is a One-Nation Conservative?
Traditional business types being preserved. Social and economic programs to benefit individuals
Define Prime Minister
Leader of the Government
Define Chancellor Of The Exchequer
Chief Financial Minister
What does the Chancellor of The Exchequer do?
Control taxation and inflation rates
Define Foreign Secretary
Secretary of State for Commonwealth and development
What does The Home Secretary do?
Controls law enforcement in England and Wales and immigration issues
What does the Secretary of State for Defence do?
Responsible for getting resources to defend the country, nuclear operations, strategic communications
What is a post war consensus?
After WWII all major British parties shared the same view on how the country should be run
What is a social democracy?
Ideology supporting government intervention in capitalism if needed
What is Nationalisation?
Making it so that Unions run industries to better protect the interests of the workers
What is unilateral nuclear Disarmament?
Country’s disarmament of nuclear weapons decided by only one party
Define Inflation
When prices of things increase
Define Deflation
When the prices of everything decrease
Define Devaluation
When a currency is purposefully reduced in its value
What is productivity?
Amount of money generated from hours of work done
What are Trade Unions?
Organisations made up of workers to give them a voice in the working environment
What are stop-go economics?
Going from economy growth to too many imports and balance of payments issues
What is a run on the pound?
When the pound is put under stress of devaluation
Define Sterling
United Kingdom’s currency
What is a mixed economy?
Economy based on capitalism with some socialism aspects
What is Direct taxation?
When people are taxed in relation to how much money they make
What is an example of direct taxation?
Income tax