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 caused social and economic problems for Thatcher during her time as PM. Young people could no longer expect to follow their parents into work, causing many to have to move away. Some lost their jobs as privatised companies cut back on staff, and others found that they could no longer rely on long-term job security and on reliable pension provision. Shortly before the Brixton riots Operation Swamp, which aimed to reduce street crime, 1, people were stopped in 6 days. Thatcher’s First Term as PM Financial services became an important export to the UK.
Bus companies were deregulated to encourage competition. Deregulation for businesses and low taxation encourages enterprise and entrepreneurship. How was deregulation carried out? Cutting wsteful welfare payments as a way of saving public money and reducing dependency. 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. Overall the economic realignment that resulted from Thatcher’s economic policies depended on perspective.
The foundations of the working class and of the communities they lived in were crumbling. This economic realignment could also be seen in the urban decay of many inner city areas.
The ‘Big Bang’ on the 27th October deregulated the London Stock Exchange, opening the way for computer scree trading and replacing the ‘old tthatcher netowrk with free competition. However, many criticised privatisation as being coursswork, particularly one-nation conservatives such as Harold Macmillan. This was exacerbated by the fact that these were also areas where young black and Asian people felt the ‘sus law’ meant that the police unfairly targeted them. The government also intorduced other measures to encouarge start-up companies.
Chief policies within this tjatcher This changed British society in a fundamental way as it promoted the capitalist streak that the polocy developed within the individual, giving the potential for social mobility as it generated wealth, another important policy of Thatcher’s. Flexible labour makes it easier to fire or hire workers.
Between andthere were 9 million shareholders amongst the British public, and 14 major British companies had been privatised. This was calculated as an act of defiance against the ‘wets’, ministers such as Francis Pym and James Prior, who were worried by the effects of monetarism, had wanted this policy to be abandoned.
Thatcher () – Revision Notes in A Level and IB History
Supply-side economics marked a shift of emphasis rather than a change in policy. Employees spend on goods and services produced by businesses. In Howe advised Thatcher to leave Liverpool to ‘managed decline’. Privatisation was drvien by an anti-socialist ideology and became a central policy under Thatcher.
Thatcher’s Economy – Revision Cards in A Level and IB History
Foreign banks could now operate as stockbrokers. There were increased problems of ill health and depression, and also alcoholism and drugs. What was economic realignment? Financial services became an important export to the UK. The ‘Thatcher Revolution’ Tebbit famouslyspoke ‘He didn’t riot, he got on his bike and looked for work thtcher kept looking’.
What economic policy was adopted in the mids? Financial deregulation freed up the City of London and the financial markets from the tight controls of the Bank of England.
The other key element of supply-side economics was deregulation. 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. Tebbit was one of the tough guys in the cabinet.
Government uses tax to support full employment. It also signalled the end of the post-war consensus in State role. What was the feeling of the riots causation? He was portaryed as satire thatcber ‘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.
Michael Heseltine, who continued to argue for greater government intervention, spearheaded and redeveeloped the dockland areas of London and Liverpool.
The areas in which riots had happened were suffering hihg leevls of unemployment and deprivation. Chief policies within this included:. Reducing taxation so as to provide employees with a greater incentive to work. Clursework few steps pcr been taken to carry this policy out in Thatcher’s first term, such as the privatisation of BP in and British aerospace in Businesses would compete with each other in the marketplace, which would encouarge improvements and innovation.