Also, the money earnt did not go on long term infrastructure, rather on current spending and welfare payments. At the same time the financial pressures that local government was under also led to a ‘rolling back the frontiers of the state’. Businesses would compete with each other in the marketplace, which would encouarge improvements and innovation. It also signalled the end of the post-war consensus in State role. Financial services became an important export to the UK.
A few steps had been taken to carry this policy out in Thatcher’s first term, such as the privatisation of BP in and British aerospace in 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. This allowed the government to make cuts in taxation, which was a key economic policy of Thatcher’s supply-side economics. How was deregulation carried out? That they were deliberately started or exploited by political troublemakers. The Thatcher government’s embraced this shift. The Scarman Report was commissioned to examine the causes of these riots.
A few steps had been taken to carry this courswork out in Thatcher’s first term, such as the privatisation of BP in and British thather in Even without the government’s economic policies, long-term economic trends were already affecting Britain’s old industries. This was because businesses were sold off cheaply in order to ensure all shares were taken up which in turn meant that like was more insecure for employees.
Government can tax business and individuals. Instead, the government followed supply-side economics. Such support kept her going thatchsr she said ‘this Lady’s not for turning’. It also signalled the end of the post-war consensus in State role. Britain looked a different place depending on whether you were in Sheffield or London. Hospitals were required to operate an ‘internal market’ by taking control of their own finance and matching needs to resources.
Young people could no longer expect to follow their parents into work, causing many to have to move away.
Thatcher’s Economy – Revision Cards in A Level and IB History
This allowed the government to make cuts in taxation, which was a key economic policy of Thatcher’s supply-side economics.
Sign up to Comment. A new breed of dealers and speculators took over. Supply-side economics marked a shift of emphasis rather than a change in policy. This would then stimulate the economy. Chief policies within this included: Businesses would compete with coursewrok other in the marketplace, which would encouarge improvements and innovation.
The riots in Brixton consisted of hundreds of black youths running riots, burning shops and looting property. What economic policy was adopted in the mids? Tebbit famouslyspoke ‘He didn’t riot, he got on his bike and looked for work and kept looking’. Just as Thathcerites believed that private individuals were better at spending money than government, it was a core belief that the private sector was more dynamic and efficient than the public sector at running and delivering goods and services.
That they were deliberately started or exploited by political troublemakers. What was the ‘sus courseworm Supply-Side Economics Although monetarism was never fully dropped as a policy, from the mids it was largely abadoned.
The government also intorduced other measures to encouarge start-up companies.
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. Shortly before the Brixton riots Operation Swamp, which cooursework to reduce street crime, 1, people were stopped in 6 days.
Supply-Side Economics Deregulation for businesses and low taxation encourages enterprise and entrepreneurship. Chapter 6 -Thatcher and the end of consensus, Profits encourage expansion or further investment into business.
This economic realignment could also be seen in the urban decay of many inner city areas. 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. Foreign banks could now operate as stockbrokers. Nevertheless, Thathcer’s ultimate victory from this policy was to see labour abandon its historic Clause IV policy under Tony Blair, and therefore it played a key role in the defeat of socialist ideology.
It was only with the greatest difficulty that the police eventually contained the trouble. The major turning point however couesework the sale of British telecom in