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structure from manufactoring to service industries
- London has maintained and streghtened ist position as international trading centre
3. The British economy in the 80?s and 90?s
Thatcherism: -reform policy in the 80?s
-intended to create an economic climate of competition,
production and efficiency
-government influenced economy
-the Blair government accepts these reforms,but fine tune them
Economic Growth: -caused by strengthening competition, reducing tax rates,
exploitation of North sea oil
-recession in the early 90?s, then grew steadily for
several years
-economic problems that arose worldwide in 1998 had effect
in Britain too
Inflation: -the Tories have successfully fought inflation under Thatcher
and Major through austerity2 policies and strict control of the
money supply
-inflation fell from 18% (1979) to 4% (1986), but then doubled
and peaked to more than 10% (1990), since than, inflation
declined
Trade Union Policy: -between 1980 and 1983, different Employment Acts gave
Britain a tough labour law ( unions3 could be sued4
for organizing unlawful industrial action, the forced
trade union membership was restricted, it?s free to
bargain4 with trade unions for employers)
-since then, the industrial power of unions had
diminished5 and union membership has fallen
Privatization: -the Torie reforms during the 80?s intended to privatize
nationalised industries and to turn people who work in
these companies into shareholders6
-electricity, gas, water, British Airways and British Rail
were privatized
Housing: -council houses7 were selled· higher house prices · inflation
increased
-boom ended in 1988; in 1991, the government introduced measures
to protect houseowners
-now, houses are built for the private sector
-between 1994 and 95, the government financed 100 million pounds
to help people moving to these private houses
-council houses are re-let to families in great housing need
1 Ballungsraum 4 handeln 7 Sozialwohnungen
2 Sparpolitik 5 vermindert
3 Gewerkschaften 6 Aktionare
4...
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structure from manufactoring to service industries
- London has maintained and streghtened ist position as international trading centre
3. The British economy in the 80?s and 90?s
Thatcherism: -reform policy in the 80?s
-intended to create an economic climate of competition,
production and efficiency
-government influenced economy
-the Blair government accepts these reforms,but fine tune them
Economic Growth: -caused by strengthening competition, reducing tax rates,
exploitation of North sea oil
-recession in the early 90?s, then grew steadily for
several years
-economic problems that arose worldwide in 1998 had effect
in Britain too
Inflation: -the Tories have successfully fought inflation under Thatcher
and Major through austerity2 policies and strict control of the
money supply
-inflation fell from 18% (1979) to 4% (1986), but then doubled
and peaked to more than 10% (1990), since than, inflation
declined
Trade Union Policy: -between 1980 and 1983, different Employment Acts gave
Britain a tough labour law ( unions3 could be sued4
for organizing unlawful industrial action, the forced
trade union membership was restricted, it?s free to
bargain4 with trade unions for employers)
-since then, the industrial power of unions had
diminished5 and union membership has fallen
Privatization: -the Torie reforms during the 80?s intended to privatize
nationalised industries and to turn people who work in
these companies into shareholders6
-electricity, gas, water, British Airways and British Rail
were privatized
Housing: -council houses7 were selled· higher house prices · inflation
increased
-boom ended in 1988; in 1991, the government introduced measures
to protect houseowners
-now, houses are built for the private sector
-between 1994 and 95, the government financed 100 million pounds
to help people moving to these private houses
-council houses are re-let to families in great housing need
1 Ballungsraum 4 handeln 7 Sozialwohnungen
2 Sparpolitik 5 vermindert
3 Gewerkschaften 6 Aktionare
4...
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