LBD FACTS: 1951-64 Flashcards
1
Q
Standard of living
A
- Housing boom – Had promised to build 300,000
- No. owned their own property rose from 25% before WW2 to 44% by 1964.
- Wages rose by 72% and prices just by 45% meaning people could buy more with the money they earned
- 1951 average weekly wage £8.30, in 1964, £18.35
- TV ownership went from 4% to 91%
- 500% rise in car ownership
- Over 6000 new schools and 11 new universities built
2
Q
Economics
A
- Stop-go economics = deficit surplus of £300 million compared to the £7 million from Labour
- Stop-go economics - economy grew rapidly with reduced unemployment and increased spending which then increases demand and fuelled inflation. This was followed by the need to curb demand by using tax increases and credit restrictions. As demand fell, economic growth slowed down and unemployment would rise again.
- Share of the world shrunk 25% to 15%, Germany’s grew 7% to 20%
3
Q
Other - Liberal vote rise
A
- Middle-class Orpington in 1962 when conservative majority overturned (14,700) by liberal victory of 7850
4
Q
Unemployment
A
- The Conservative had continued the Labour pledge of full employment however the figure never fell below 250,000
- Unemployment reached over 800,000 by end of 1964
