Questions 76-103 Flashcards
How much did Rab Butler cut the taxes in his ‘give away’ budget?
2.5p of standard rate and a penny of lower income taxes, together with higher tax allowances and lower purchase tax in 1955 and even more in 1959. This translate into 145 million less in the budget of the country. In 1959 tax cuts exceeded £370 million.
What was the British share of the world trade in 1950?
25%
By how much did Britain’s share of world trade fall between 1950 and 1962?
It fell by10%, to a total of 15%
What happened to average productivity of the British workers in comparison to German workers?
British worker’s productivity rose by 25% whereas German workers productivity rose by 59% by 1960.
What were the two fastest growing economies within the period 1951 to 1964?
West Germany and Japan.
Define the term “run on the pound”.
A term describing rapid fall in the value of the pound in international currency markets, especially in relation to US dollar. A situation where investors and traders quickly begin to sell their assets to limit losses, causing the price of the pound to decline rapidly.
Give an example of when a run on the pound between 1951 to 1964 took place.
1957 following Suez Crisis.
When did the British government have to ask for the first loan from monetary fund?
1961 and the government had to introduce pay pause to avoid a rise in inflation.
What was Beeching Report and what did it cause?
It was a report into a program of cutting public spending, it led to reduction in British railways by 30%, closing many smaller stations and leaving some rural areas isolated.
When did the festival of Britain take place?
It took place in 1951 and it was designed to mark British recovery from the war, and show off developments in design, industry and culture.
What year did ITV launch?
1955
How much did the ownership of TV sets rise between 1957 to 1960?
TV ownership rose by 32%.
How much did the car ownership rise between 1957 to 1960?
Car ownership rose by 25%.
What was the impact of the rise in car ownership on the British public?
Car travel made new leisure and holiday activities possible for example Butlins and Blackpool, it also led to rise of suburbs as now people were able to commute to work, it led to development of the road and motorway system across UK.
What does the CND stand for?
Campaign for Nuclear Disarmament