7306809
Description
Flashcards by Chloe Fairbrother, updated more than 1 year ago
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Created by Chloe Fairbrother
over 7 years ago
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| Question | Answer |
| British Economy, 1974 - 1979 | Harold Wilson, LP |
| Due to the events of the Yom Kippur War, to what value did the Balance of Payments rise to? | £1 billion |
| What did the annual inflation rate rise to? | 16% |
| What did the value of Sterling drop to? | $1.57 |
| How high was the rate of interest increased to? | 15% (the highest budget deficiency in British history) |
| What was the state of unemployment between 1974 and 1976? | Doubled to 1.44 million |
| When did the Yom Kippur War break out? | October, 1973 |
| Between which two nations was the Yom Kippur War fought between? How was Britain involved with the conflict? | Arab members of O.P.E.C had already experienced a long-running conflict with Israel. Britain, alongside other Western powers, supported Israel. The Arab members retaliated by strictly limiting oil supplies to the Western world. |
| In the October 1974 General Election, how many seats had the Labour Party gained? | 18 seats |
| In the October 1974 General Election, how many seats had the Conservative Party lost? | 21 seats |
| In the October 1974 General Election, what was the overall majority of the Labour Party? | 3 seats (despite having 42 more seats) |
| Whilst in Opposition, what did Wilson negotiate in 1973 to placate with the Trade Union Congress? | The Social Contract |
| What positions were Tony Benn and Michael Foot appointed? | Head of the Department of Industry and Head of the Department of Employment |
| When did Denis Healey, as Chancellor, propose his two new budgets? | March, 1975 and July, 1975 |
| What did Denis Healey's speech in Leeds (January 1975) concern warnings of? | Wage inflation promoting rises in unemployment. Public spending needed to be curbed. |
| What did Tony Been establish in 1974? | National Enterprise Board (NEB) |
| What event, in 1975, led to people questioning the effectiveness of the NEB? | British Leyland was nationalised. |
| When did Harold Wilson suddenly resign? | March, 1976 |
| How did Harold Wilson describe his successor, James Callaghan, as Prime Minister? | "A safe pair of hands." |
| When was the first Labour Party Conference with Callaghan as PM held? | September, 1976 |
| How much was the loan received by the IMF in December, 1976? | £3 billion |
| By 1978, how many British oil fields were in production? | 9 |
| What value did inflations rates fall to under Callaghan's premiership? | 10% |
| How many Liberal Party MPs pledged their allegiance to support the Labour Party in the 'Lib-Lab' Pact? | 12 |
| When were the referendums for Devolution held in both Scotland and Wales? | 1st March 1979 |
| How much of the electorate needed to be in agreement for Devolution in order for it to be successfully passed? | 40% (a Labour Party MP introduced this Clause) |
| What was the value of the wage increase offer that the TUC rejected from the Labour Party? | 5% |
| How long did the Ford lorry drivers go on strike for, and what was the outcome? | 9 weeks and a 15% wage increase by December, 1978. |
| Roughly how many workers came out on strike on 22nd January,1979? | 1.5 million |
| Name four other groups of workers who arranged strikes during Callaghan's premiership (not lorry drivers). | Hospital Porters (CHSE) Clerical Staff in local councils (NUPE) Dustmen Gravediggers |
| When did the general strikes reach their conclusion? | March, 1979 |
| What was the overall average wage increase? | 10% |
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