UK Economy Flashcards by Hetty Ward

Q

What did the Government policy of 1945 - 79 do?

What were the limitations?

A

Gov created state run industries (e.g National Rail and British Steel Coorporation)
Gov spent money on ‘propping up’ declining UK industries BUT ageing equipment, outdated working practices and too many employees made them unprofitable.

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Q

What did the Government policy of 1979 - 2010 do?

What did it lead to?

A

State run industries sold off to private shareholders to create a competitive business environment = PRIVATISATION.

= many older industries closed + jobs lost (deindustrialisation).

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Q

A

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