Thatcher economic policy

Question 1

First term

Answer 1

1979-83

Question 2

Falklands War

Answer 2

1982

Question 3

Chancellor Geoffrey Howe

Answer 3

1979 - June 1983

Question 4

Chancellor Nigel Lawson

Answer 4

June 1983 - Oct 1989

Question 5

Second term

Answer 5

1983-87

Question 5

Third term

Answer 5

1987-90

Question 6

Inflation … When came to office 1979, jumped to … By 1980

Answer 6

13.4%
18%

Question 7

Inflation kept below … … (Period)

Answer 7

9%
1981-89

Question 8

(Howe cut public spending from … To … …)

Answer 8

£11bn
£9bn
…

Question 9

… gov subsidised nationalised industries with …

Answer 9

1984
~£1.1bn

Question 10

By … nationalised industries brought in profit of …

Answer 10

1988
£1.3bn

Question 11

… Large industries sold off including…

Answer 11

50
British Airways
British Steel
British Telecoms

Question 12

In total gov made … From sale of assets

Answer 12

£20bn

Question 13

Num shareholders rose from … To … By …

Answer 13

3mil
11mil
1990

Question 14

… Council houses sold … (Period)

Answer 14

Over 1mil
1979-88

Question 14

(industrial production increased by … Each year in 80s)

Answer 14

4.2%

Question 15

UK economy grew at rate of … Towards end of 80s

Answer 15

8%

Question 16

Real wage increase by … For average worker … ( just … In France)

Answer 16

10%
1979-94
2%

Question 17

Num firms grew from … To …

Answer 17

1.9mil
3mil

Question 18

Act abolished credit & exchange control

Answer 18

Financial Services Act (1986)

Question 19

80s investment in financial services industry grew by …

Answer 19

300%

Question 20

Lawson slashed interest rates … In 1985 to … 1988

Answer 20

14%
7.5%

Question 21

Unemp above … 1980-89

Answer 21

2mil

Question 22

Unemp peaked at … In …

Answer 22

3.4mil
1986

Question 23

... Unemp in 1990 (compared to ... When T came into office)

Answer 23

9.1% 3.4%

Question 24

... Workers unemp in Scotland & North mid-80s

Answer 24

1 in 5

Question 25

Stock market crash

Answer 25

1987

Question 26

Lawson's 'giveaway budget'... Lowered standard rate of tax ... To ..., top rate ... To ...

Answer 26

1988 27% 25% 60% 40%

Question 27

Inflation ... By 1990

Answer 27

9.5%

Question 28

British Steel shed ... Workers

Answer 28

95,000

Question 29

National Coal Board had to close ... Pits & make ... Workers redundant

Answer 29

75 64,000

Question 30

1970 ... Employed in industry, by 1990 just ...

Answer 30

Over 9mil 4mil

Question 31

Investment in manufacturing only grew ... In 80s

Answer 31

8%

Question 32

60s industrial output = ... Of GDP, by 1997 just ...

Answer 32

60% 21%

Question 33

Import export deficit: 1979 ..., 1990 ...

Answer 33

£5bn £20bn

Question 34

Only ... Working class males owned shares, ... Professional males

Answer 34

9% 50%

Question 35

Many sold shares back to large companies = 1975 ... Individuals owned shares, 1990 fallen to ...

Answer 35

38% 20%

Question 36

Economic growth under T slower than under ... & ... In ...

Answer 36

Macmillan Wilson 50s & 60s

Question 37

1950 Britain's GDP ... In world, 1997 ...

Answer 37

6th 14th

Question 38

By 1990 income tax standard rate fell to ..., top rate ...

Answer 38

25% 40%

Question 39

VAT rose from ... To ...

Answer 39

8% 15%

Question 40

National Insurance rose from ... To ...

Answer 40

6.5% 8%

Question 41

By ... Widest gap between rich & poor since records began

Answer 41

1991

Question 42

... 'Poll Tax' withdrawn in ...

Answer 42

1989 1991

Question 43

Overall spending on social security & welfare rose ... In real terms

Answer 43

60%

Question 44

(spending on law & order rose ...)

Answer 44

36%

Question 45

(military spending increased ... Each year 80s)

Answer 45

3%

Question 46

1990 gov. Spending = all-time high, deficit of ...

Answer 46

Nearly £30bn

Question 47

Balance of payments deficit ... In 1990 (... In 1979)

Answer 47

£47bn £16bn

Question 48

Increase in household debt from ... In 1980 to ... 1989

Answer 48

£16bn £45bn

Question 49

Overall personal debt ... By 2003

Answer 49

£1.3 trillion

Question 50

1989 interest rates re-raised to ...

Answer 50

15%