Loading [MathJax]/jax/output/HTML-CSS/fonts/TeX/fontdata.js
Chloe Fairbrother
Mapa Mental por , criado more than 1 year ago

AS - Level History - Britain Mapa Mental sobre WILSON'S GOVERNMENT: ECONOMIC POLICIES & PROBLEMS (1964 - 1970), criado por Chloe Fairbrother em 24-12-2015.

76
1
0
Chloe Fairbrother
Criado por Chloe Fairbrother aproximadamente 9 anos atrás
Avalie este recurso clicando nas estrelas abaixo:
1 2 3 4 5 (1)
Classificação (1)
1
0
0
0
0

0 comentários

There are no comments, be the first and leave one below:

Fechar
WILSON'S GOVERNMENT: ECONOMIC POLICIES& PROBLEMS (1964 - 1970)THE STATE OF THE BRITISHECONOMY (1964)DEBT of £800MILLIONBritain was LAGGING BEHIND theECONOMIES of other leadingcountries...WestGermanyJapan'STOP-GO'POLICIESBritain's economy was STILLwaged in a cycle of turbulent'stop-go' policies!A vicious circle of quick bursts ofprosperity ultimately leading todemeaning periods of deflation!REORGANISING the ECONOMY in orderto BREAK FREE of this cycle becamethe PRINCIPLE AIM of HAROLDWILSON'S GOVERNMENT (1964)!DEFLATION?DEVALUATION?WHAT DID WILSON DO TO AVOIDDEVALUATION?Wilson was concerned about theLabour Party acquiring a distastefulREPUTATION as 'the PARTY OFDEVALUATION.'After CLEMENT ATLEEwas forced to devaluethe pound in 1949.+ Would SUPPORT theVALUE OF THE POUND.- Would have been a biting submission tothe tiringly archaic approach of'stop-go' economics that WILSON WASDETERMINED TO DISSASOCIATEBRITAIN FROM!- Posed serious issues for the LABOUR PARTYMANIFESTO COMMITMENTS of INCREASEDEXPENDITURE within the WELFARE anTECHNOLOGY departments!+ Would cushion the recentweakening effects on Britain'sBALANCE OF PAYMENTS.- Would WEAKEN Britain'sINTERNATIONAL REPUTATIONon the notion of fragility.- Would actually make Britain's INTERNATIONALPRESENCE significantly WEAKER whenrecognising that She would have to REIGN IN herrole in many GLOBAL ACTIVITIES!Established a new'DEPARTMENT OFECONOMIC AFFAIRS'GeorgeBrownSet GROWTHTARGETS.Devised a national system of'ECONOMIC PLANNINGCOUNCILS.'Attempted to establishAGREEMENTS about...Wages.Prices.... With theVIEWS of...Industrialists.Civil servants.Trade Unionleaders.PRICES AND INCOMESPOLICY'PRICES ANDINCOMES BOARD.'FAILUREGeorge Brown'sefforts wereUNDERMINED...JamesCallaghan... bitter COMPETITION ensuedbetween Brown, with his D.E.A. andCallaghan, alongside theTRADITIONALIST economists of theTREASURY!'ANTI-LABOUR' CivilServants...REFUSED to ADMITIMPORTANT DOCUMENTS!Even went asfar to as 'BUG'Brown's PHONEGEORGEBROWN...'Impulsive andinconsistent'attitude.Wilson felt compelledto ABANDON thedisastrous venture!1967Only THREE YEARS afterimplementing the departmentfor the first time!Wilson deferred GeorgeBROWN out of his leadershiprole and into the MINISTRY OFFOREIGN AFFAIRS!VERY embarrassing!Drew up lots of PLANSbut FAILED to IMPLEMENTthese ideas!An ALTERNATE venture to theunsuccessful 'Department ofEconomic Affairs.'FAILUREAnother STERLINGCRISIS...1966A STRIKE by theNATIONAL UNIONOF SEAMEN.LONG durationBITTER attitudespresented.Ports and docks around thecountry were becomingincreasingly congested as shipsare brought to a standstill byprotesting members of theNational Union of Seamen."The government mustprotect the vital interests ofthe nation. This is not actionagainst the National Union ofSeamen."Harold Wilson,Prime MinisterThe NUS is demandingtheir 56-hour week isreduced to 40 hours.Wilson acknowledgedconditions andregulations governingthe seamen needed tobe modernised...... but said the pay demands couldnot be satisfied because theresulting amount of overtime paywould go counter to the prices andincomes policy that aims to reduceinflation by limiting wage rises to3.5%.Wilson's hardline tactics split the Labour party intoLeft and Centrists and did little to improve thecountry's economic problems!FrankCousinsRESIGNED from Wilson'sCABINET over the PRICES ANDINCOMES POLICY.5th December,1966Provoked a quickeningdisintegration ofharmony between theGOVERNMENT and theTRADE UNIONS!Government intervention to SET LIMITSon PRICE RISES and to call for WAGERESTRAINT in NEGOTIATIONS betweenTRADE UNIONS and EMPLOYERS.DEVALUATIONA THIRD Sterlingcrisis...19671. Another outbreak of WARwithin the MIDDLE EAST...... badly affectedOIL SUPPLIES!2. A major NATIONALDOCKING STRIKE...... led to a poor BALANCEOF PAYMENTS!August,1967The British £DROPPED by 14%$2.40Labour was forced tointroduce...HIRE PURCHASERESTRICTIONS!HIGHERINTEREST RATES!... deflationary policies that GREATLYRESEMBLED hose of the dreaded 'stop-go'economics of the PREVIOUS CONSERVATIVEGOVERNMENTS!November,1967JamesCallaghanHad consistentlyOPPOSEDDEVALUATION...... and subsequentlyRESIGNED over theissue!1967Wilson addressed theNATION to explain hisdecision to devalue the £THE SOLUTION AFTER DEVALUATIONCalling it, "a POINTOF HONOUR.""Having denied 20 times in37 months that they wouldever devalue the pound,they have devaluatedagainst all their ownarguments."EdwardHeathCONSERVATIVEleader.Appeared on TV toREPLY to Wilson'sBROADCAST inNovember.RoyJenkinsJames Callaghan's REPLACEMENTfor the position of CHANCELLOR ofthe Exchequer.1967Had been STRONGLY INFAVOUR ofDEVALUATON since1964!Used a range of strictDEFLATIONARYMETHODS...1. Raised TAXES.2. Restricted GOVERNMENTSPENDING within ALL AREASof the economy.3. Gave PRINCIPLEPRIORITY to the BALANCEOF PAYMENTS crises.- Made the governmentUNPOPULAR AT FIRST...+ ... but eventually, Jenkins managedto achieve a BALANCE OF PAYMENTSSURPLUS!1969- INFLATION was stilloperating at a fairlydegrading 12%Served as a KEY FACTOR in theconfident LABOUR VICTORY of the1970 General Election!Clique duas vezes aqui para editar o textoClique e arraste este botão para criar um novo tópico