The Economy Under Thatcher

Question 1

When we’re the following privatised?
BP
British Aerospace
British Telecom

Answer 1

BP - 1979
British Aerospace - 1980
British Telecom - 1984

Question 2

What did Thatcher push for along with privatisation?

Answer 2

She encouraged ordinary people to buy shares

Question 3

What impact did Deregulation have?

Answer 3

Freed London and financial markets from the tight controls of the Bank of England

Question 4

What happened to housing?

When was this?

Answer 4

Housing Act, 1980
Gave tenants of council houses the right to buy their homes
- realigning class loyalties

Question 5

What was the drawback of privatisation?

Answer 5

Shares were often bought by large commercial companies rather than ‘the little people’ as Thatcher had advertised

Question 6

When was the Big Bang?

Answer 6

1986

Question 7

What did Lawson 1981 budget do?
What happened to steel?
Where were their riots in 1981?

Answer 7

Continued monetarist policy as taxes on petrol, alcohol and cigarettes were increased whilst grants to local council were it

Steel prediction was cut by 30%

Toxteth in Liverpool

Question 8

What act was introduced to undermine the authority of local government?
When was this?

Answer 8

Local government act, 1986

This centralised power further as large metropolitan local authorities set up under Heath were crippled in authority