Politics (1975-90) - Extra Notes

mcleishy's version from 2015-05-23 15:18


Question Answer
Despite inflation running as high as 30% in 1975, how large were some of the pay settlements Wilson gave to the unions?30%
Why was it necessary to avoid wage inflation? It led to unemployment, and it was vital to control public spending?
In which budgets did Healey introduce price-rises, limit wage increases to a maximum of 3%?April 1975, and 1976
By 1976 government spending was becoming uncontrollable and taxes were very high: what was inflation, interest rates, and the balance of payments deficit?16%, 15%, and £1 Billion
What did Wilson resist Tony Benn over?An attempt to socialize the economy through the National Enterprise Board
Which Labour Party members were outraged by the IMF loan,