The response to economic challenges, 1951-79

Between what years did the Conservatives use ‘stop-go’ economics?

1951 to 1964

In what year was ROBOT, a plan to float the pound against other currencies, dropped?

1952

When did the government refuse to devalue the pound and instead borrows how much from the IMF?

In August 1961, £714 million

What does NEDDY stand for?

National Economic Development Council

What does NICKY stand for?

National Incomes Commission

In what year were NEDDY and NICKY set up but proved to be ineffective?

1962

When was the Prices and Incomes Act passed?

1966

When was the Industrial Reorganisation Corporation passed?

1966

When was the pound devalued?

1967

When did Britain go to the IMF for its second bailout loan?

1967

In what year did decimal currency replace pounds, shillings and pence?

1971

In what year was the pound allowed to float freely against other currencies?

1972

When was the ‘Barber Boom’?

1972

When did the Yom Kippur War lead to the OPEC oil crisis, bringing inflation and unemployment?

1973

When did Britain apply to the IMF for a $3.9 billion bailout?

1976