economic developments

from mid 1991-1992, what did unemployment go from and rise to

1.6m → 2.6m

what did Major resort to to solve this

high public spending e.g. NHS

what did the ERM require of Britain

maintain a fixed rate of exchange

what day at what time did Lamont announce the removal of Britain from the ERM 

16 September 1992, 7pm

were the effects of Black Wednesday bad or good?

suprisingly good 

were the effects of Black Wednesday politically good or bad? give evidence

bad, drop in support for conservatives in the opinion polls, criticised by newspapers that previously supported Major

give 3 pieces of evidence to suggest the economy was doing well after the leave from ERM

• unemployment rates slow down

• prevented Britain having to keep high interest rates

• housing market began to pick up