Overall the economic realignment that resulted from Thatcher’s economic policies depended on perspective. Chapter 6 -Thatcher and the end of consensus, The areas in which riots had happened were suffering hihg leevls of unemployment and deprivation. Schools were entitled to opt out of the State sector and become responsible for their own financing. What was the feeling of the riots causation?
What was the ‘sus law’? However, many criticised privatisation as being selfish, particularly one-nation conservatives such as Harold Macmillan. Rolls Royce was privatised in What activities took place after this realignment? What was the feeling of the riots causation? The riots in Brixton consisted of hundreds of black youths running riots, burning shops and looting property.
The ‘yuppie’ became an iconic image of the s and the City became a place where bigger risks were taken and bigger fortunes could be made. Privatisation was drvien by an anti-socialist ideology and became a central policy under Thatcher.
Financial services became an important export to the UK. Rolls Royce was privatised in How was deregulation carried out? Profits encourage expansion or further investment into business.
Foreign banks could now operate as stockbrokers. Balck people and those from ethnic minorities believed that the police unfairly odr them. The Scarman Report was commissioned to examine the causes of these riots.
What activities took place after this realignment? However, in areas that had never known anything else but coal mines, shipyards and steelworks, people faced painful adjustments. The sale of British gas in became the biggest share offer in history, and was accompanied by a high profile advertising campaign seeking to maximise the purchase of shares by ordinary people, allowing the public to become shareholders.
Long-term trends shifted economic actvitiy to the south, changing the face of many cities and towns. In London, the Canary Wharf development on the old West India Docks became the second most important financial district in the country after the City of London, a symbol of the shift to the service industries.
This allowed the government to make cuts in taxation, which was a key economic policy of Thatcher’s supply-side economics.
These old, labour-intensive industries were facing challenges from foreign competition and courseowrk technological innovation. Thatcher’s First Term as PM However, many criticised privatisation as being selfish, particularly one-nation conservatives such as Harold Macmillan. The factors that caused most toruble were the poor job prospects in the inner city areas, the ‘sus law’, and the high incidence of unemployment among school leavers. This approach rested on the belief that Keynesian policies had distorted the operation of the economy by attempting to create demand artificially through demand-side economics.
Thatcher () – Revision Notes in A Level and IB History
Overall the economic realignment that resulted from Thatcher’s economic policies depended on perspective. It was only with the greatest difficulty that the police eventually contained the trouble.
Courxework the powers of the trade union so that they could not block productivity or prevent the modernisation of industry. In Howe advised Thatcher to leave Liverpool to ‘managed decline’.
Thatcher’s Economy – Revision Cards in A Level and IB History
He was portaryed as satire as ‘spitting image’ as a leather clad, cosh wielding enforcer, who was one of Thatcher’s staunchest supporters, who urged her not to allow the riots to deflect her from her policies.
The ‘Big Bang’ on the 27th October deregulated the London Stock Exchange, opening the way for computer scree trading and replacing the ‘old boys’ netowrk with free competition.
At the same time the financial pressures that local government was under also led to a ‘rolling back the frontiers of the state’. Supply-side economics marked a shift of emphasis rather than a change in policy.
Sign up to Comment. Reducing taxation so as to provide employees with a greater incentive to work. Yhatcher was one of the tough guys in the cabinet.
This gave police offciers permission to stop and search suspected persons if they thought they might commit a crime. A few steps had been taken to carry this policy out in Thatcher’s first term, such as the thahcher of BP in and British aerospace in Cutting wsteful welfare payments as a way of saving public money and reducing dependency. Such support kept her going when she said ‘this Lady’s not for turning’.
Young people could no longer expect to follow their parents into work, causing many to have to move away. This economic realignment could also be seen in the urban decay of many inner city areas.