Labour 1974-79 Flashcards
What was labours majority over the conservatives after the 1974 election?
3 seats
Who were Labour dependant on because of a small majority?
The liberals
when and What formalised the liberals party influence?
The lib-lab pact
How much was the balance of payments at a deficit in 1974?
3 billion
How much was inflation at in 1974?
15%
What had Wilson already proposed in 1973 to deal with the unions?
Trade union congress- meant national miners agreed and 3 day week ended in 1974
Who were put in charge of industry and employment?
Michael Benn and Tony Foot (both left wing labour MPs)
What did Healey’s 1975 budget aim for ?
Cuts to consumer spending and increase taxation
When does Wilson resign?
March 1976
Who did the government rescue?
Car manufacture British Leyland, controverial as government accused of saving ‘lame duck’ industries
When was the National Enterprise board set up? Was it effective?
1974
Set up by Benn however questioned over its effectiveness
How much did the IMF loan Britain in 1976?
3 billion
What did the IMF want in return for the loan
heavily reduce government spending
