Wilson's Government 1964-1970 Flashcards
What were the two proposed polices to deal with the balance of payments deficit?
Deflation and Devaluation
Which Chancellor negotiated foreign loans to prevent a run on the pound?
Jim Callaghan
Give an example of deflationary methods used in 1964.
Higher taxes on alcohol and tobacco and a temporary import surcharge.
Where did Britain secure foreign loans from in 1964?
The USA
When was the National Plan introduced?
1965
What were the aims of the National Plan?
Increase annual growth rate to 3.8% over 6 years
Increase exports 5.25% each year
What were the limitations of the National Plan?
The Treasury refused to co-operate with the DEA.
The Treasury’s use of deflationary measures undermined targets for government spending.
The NBPI had no power to enforce decisions. It relied on the co-operation of the trade unions, who did not support wage restraint.
What policy was introduced in 1967?
Devaluation
In what year did the seamen go on strike?
1966
What was the rate of unemployment in 1964?
1.7 million
What was the rate of unemployment in 1967?
2.5 million
Who replaced Callaghan as Chancellor?
Roy Jenkins
Give two deflationary policies under Roy Jenkins.
Reduction in military commitments
Prescription charges, abolished in 1964, were reintroduced.
The raising of the school leaving age from 15 to 16 was deferred from 1971 to 1973, a change that undermined the educational reform that Labour had believed essential to its plan to modernise Britain.
Taxation increased by £923 million
What happened to the death penalty in 1969?
Abolished
When was the Sexual Offences Bill passed?
1967
