The areas in which riots had happened were suffering hihg leevls of unemployment and deprivation. The government would interfere as little as possible in terms of legislation towards businesses, and therefore removed the ‘red tape’. These old, labour-intensive industries were facing challenges from foreign competition and from technological innovation. The ‘Thatcher Revolution’ Financial deregulation freed up the City of London and the financial markets from the tight controls of the Bank of England. Privatisation was drvien by an anti-socialist ideology and became a central policy under Thatcher.
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. A new breed of dealers and speculators took over. Employees spend on goods and services encouarged by low taxation on individuals. What was economic realignment? 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. 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.
Thatcher () – Revision Notes in A Level and IB History
Michael Heseltine, who continued to argue for greater government intervention, spearheaded and redeveeloped the dockland areas of London and Liverpool. Young people could no longer expect to follow their parents into work, causing many to have to move away.
Supply-side economics argued for a return to incentives, so people would work harder and more productively if they were allowed to keep their earnings. It lead to investment and regeneration in some areas. Foreign banks could now operate as stockbrokers.
Privatisation was drvien by an anti-socialist ideology and became a central policy under Thatcher. In Howe advised Thatcher to leave Liverpool to ‘managed decline’. 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. 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. Chapter 6 -Thatcher and the end of consensus, Employees spend on goods and services produced by businesses.
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 ciursework running and delivering goods and services.
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. It London one of the financial capitals of the world and allowed it to compete with Wall Street.
Demand-Side Economics Government uses tax to support full employment. It was still part of her broad programme for establishing free enterprise with privatisation and deregulation. Tebbit was one of the tough guys in the cabinet.
Cutting wsteful welfare payments as a way of saving public money and reducing dependency. Thatchre activities took place after this realignment? Despite the Scarman Report and subsequent changes in policing policies, there were riots once again in Profits encourage expansion or further investment into business.
Even without the government’s economic policies, long-term economic trends were already affecting Britain’s old industries.
Thatcher’s Economy – Revision Cards in A Level and IB History
The government would interfere as little as possible in terms of legislation towards businesses, and therefore tgatcher the ‘red tape’. 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.
It blew away old tradition and is credited with restoring London’s position as a world financial centre.
There were increased coursrwork of ill health and depression, and also alcoholism and drugs. Supply-side economics marked a shift of emphasis rather than a change in policy. It was only with the greatest difficulty that the police eventually contained the trouble.
Thatcher’s First Term as PM 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. What was the feeling of the riots causation? Government uses tax to support full employment. Chief policies within this included:. Britain looked a different place depending on whether you were in Sheffield or London.