Economic Developments: Nationalisation, Unions, ECSC Flashcards
What is nationalisation?
Making industries to be run under the government
When was the bank of England nationalised?
1946
When was coal nationalized?
1947
When were electricity and gas nationalized
1948
When was Steel nationalized?
1951
What was a limitation to Attlee getting coal nationalized?
He had to pay the industry to become nationalized
How much did Attlee pay the coal industry to be nationalized?
£164 million
Why were Trade Unions poorly affected by Nationalization?
They were excluded from big decisions in their industry
Who instead decided what to do in nationalized industries?
Experienced executives and the government
What was significant about the way that nationalized industries were managed?
It was inefficient and not much had changed in terms of leadership
What European group did Britain have the opportunity to join?
ECSC
Why did Britain not join this European organisation?
They did not want to compromise their own industrial policies
Why was not joining the ECSC significant?
Britain would not be in Europe’s future for decades to come
