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9 Cards in this Set
- Front
- Back
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What was inflation in 1971? |
15% |
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What counter inflation policy did the government return to in 1972? |
Control of policies and incomes including pay freezes |
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What happened to unemployment in 1972? |
It reached the highest it had been since the depression in the 30s: over 1 million |
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How did the Unions react to the industrial relations act, a major source of tension? |
None of the unions would register, and days lost to strike action reached new heights of over 23 million in 1972. This made Heath's government look incompetent |
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What did the NUM do in 1972? |
Miner's strikes making good use of flying pickets to disrupt fuel and electricity and reduce industrial production in a bid for wage increases and to resist pit closures |
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How did the government respond to the miner's strikes of 1972? |
They introduced the three-day working week in 1973, recalling wartime and Attlee era austerity. Eventually, the strike was settled with a 21% wage increase for the NUM |
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What happened in 1974 with the NUM? |
NUM went on strike again for further wage increases; Heath reacted by calling an election on who ran the country: government or unions |
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What were the effects of the 1973 OPEC oil price conflict? |
Balance of payments deficit rose to £1 billion Inflation rose to 16% Value of sterling dropped from $2 to $1.57 Unemployment doubled from 1974-1976 |
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Which companies did Heath save via financial support? |
Rolls-Royce and the Upper Clyde shipbuilders |
