THATCHER Flashcards
What was Thatcher’s economic
She believed that everyone should work hard to earn a living and only most vulnerable should be helped
She believed hard work should be rewarded
Wanted to create entupenires
Thatcher and spending cuts
Public spending dropped from £11 billion in 1980 to £9 billion in 1981
Tax cuts and increased
Increased VAT from 8% to 15%
Standard rate of tax cut from 33% to 30% to and top rate tax from 83% to 60%.
From 1984 : standered rate of income tax from 30% to 27% in 1987
Thatcher and Privatisation
By 79 nationalised companies were running at loss eg British Airways was at a £544 million loss between 1981-82
1979 workers employed 25% of workers but only produced 10% of GDP
In 1979 only 7% of country had shares by 1990 it had lept to 25%
Sale of BT brought in £4 billion
What was inflation in 1980 ? And what was inflation in 1986 ?
Inflation 1980:18%
Inflation 1986: 3%
Thatcher and unemployment
Unemployment was at 3 million 1985
Thatcher and productivity
1979 British works were 50% as efficient as American workers by 1997 British workers were 80% as productive
Thatcher: Industry and finance
Financial industry got a 300% increase investment wilst manafctring only got 8%
During 60s Industry was 40% of
GDP by 1997 it was 21%
1989 £20 billion deficit
THATCHER’s Union Acts
- Employment Act (1980) criminalised secondary action
- Employment Act (1982) there could only be a strike a closed shop if there was a vote
- Trade Union Act (1984) forced Unions to call a secret ballot and win a majority to start a strike
THATCHER and DEFENCE
- 1979 she allowed us missiles to be put in UK
- 1980 bought Trident
- 1982 Falklands
- between 1984-86 18,000 trops made redundant
Law and order Acts
- Police and Criminal Evidence Act (1984) expands stop and search powers
- Public Order Act (1986) allowed police to arrest protesters
- Criminal Justice Act of 1982 and 88 shorter but harsher prison sentences for young
- Prevention of Terrorism Act (1989)extended top and search
Reduction in spending
- between 1979 and 1984 govt was cut by £5 billion
- Rates Bill passed in 1984 govt imposed upper limit on local tax
- Local Govt Act of 1988 forced Councils to buy private sector stuff
Impact of Thatcher’s battle with union
NUM ( National Union of Miners) between 1985 and 1990 it lost 84% of its members
Between 1979 and 1997 membership declined by 40%
Between 1985-1990 94 pits closed
What was the Westland Affair?
Between 1985-86 Hesltine and Thatcher fort over weather to give European or American manufacturers the contracts . Heseltine wanted Europe wilst Thatcher USA .Heseltine rigsin
Thatcher and Homosexuality
Three-quarters of people surveyed thought Homosexuality was wrong
Thatcher govt got behind a safe-sex campaign
Section 26 of the 1986 Ed Act specified that “value of family life “ should be promoted
Clause 28 of the 1988 Local Govt Act banded the the ‘promotion of homosexuality’