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CONSERVATIVE ECONOMIC POLICIES

CONSERVATIVE ECONOMIC POLICIES. Task. In groups you must reproduce the diagram on Conservative economic policies 1951-64 You must all produce a diagram Only one person is allowed to look at the diagram at one time and feedback to the rest of the group

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CONSERVATIVE ECONOMIC POLICIES

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  1. CONSERVATIVE ECONOMIC POLICIES

  2. Task • In groups you must reproduce the diagram on Conservative economic policies 1951-64 • You must all produce a diagram • Only one person is allowed to look at the diagram at one time and feedback to the rest of the group • You will only have a limited amount of time

  3. 1955: But Butler cuts income tax and purchase tax as there is a election coming Import controls-£50 limit on travel allowances Bank rate raised 1955: Pots and pans budget on kitchen utensils 1953: Income tax and purchase tax cut 1955: boom and too many imports 1951-Balance of payments and huge defence commitments Increase in exports to USA R. A. Butler (1951-55) 1962-National Economic Development Councils created (NEDDY) Macmillan 1955-57 Economic Policies Selwyn Lloyd 1960-62 Demanded halt to increasing government spending Composed of 6 trade unionists, 6 industrialists, 2 independents and 3 Cabinet ministers Wages rise faster than productivity Thorneycroft 1957-58 Heathcoat-Amory 1958-60 Wanted to bring down inflation-incomes had risen by 75% 1959-economic recovery results in giveaway budget Thorneycroft resigns when Macmillan opposes this 1961-purchase tax raised and bank rate raised to 7% Pay Pause introduced Income tax cut in an election winning budget

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