Economic policy

Post war boom- rationing came to an end in ….

July 1954

Post war boom- Higher l….. than ever before

Living standards

Post war boom- acceleration in the b…. After ww2 led to fast growing population

Birth rate

Post war boom- in 1961 There were …% (.. million) more people than in 1951

5, 2

Post war boom- Increase in o… trade which led to more earnings from e… and investments

Overseas, exports

Post war boom- Full employment was achieved only …… unemployed which was less than 1% of the population

200,000

Post war boom- more jobs in industries like c.., s… and other m…

Cars, steel, metals

Post war boom- By 1960 … million people were employed in services which was 1/5 of the population and roughly the same number of people in h… industry

5, heavy

Post war boom- rise in i… and a growth in c….

Income, consumerism

Post war boom- Higher i…. per head than any other major country except for ….

Income, usa

Post war boom- Late 1950s people enjoyed more m…, more g…, better h…, and the new ……

Money,goods,housing, welfare state

Stop go policies- growth in w… was out growing the increase of p…. Which brought inflation

Wages, production

Stop go policies- Difficult to persuade t….. that their members should not have high w….

Trade unions, wages

Stop go policies- Gov controls to use high taxation to control i….. from excessive spending that would lead to too many i….

Inflation, imports

Stop go policies- Stop go= imports become too much, i…. Rates= wage f….., demand falls, controls removed, increasing demand, rising imports

Interest, freezes,

Pressure from US over s…. started a run on the pound - MacMillans chancellor believed in m……, other ministers in cabinet were one nation and opposed as it would lead to u………

Suez, monetarism, unemployment

Thorneycroft resigned after proposed dramatic s…… cuts as well as Powell, didn’t affect c…… popularity

Spending, conservative

S…… regained value against dollar, next budget included t… cuts, reflected affluence and led to MacMillans re election in 195..

Sterling, tax, 1959

Worries forced gov to pay pause and loan from I…, Britain fell behind places like west g……, MacMillan decided it was essential to join E….

IMF, Germany, Europe

1961 application symbol of failure in bringing economic m…….., 1963 rejection, b……. report published as review- recommended tax cuts to rail network including ..%, branches cut and left r…. areas isolated, chancellor pushed go phase to encourage spending - growth rate ..% in a year

Modernisation, beeching, rural, 2