AQA A-Level History 7042
1A The Age of the Crusades, c1071–1204
1B Spain in the Age of Discovery, 1469–1598
1C The Tudors: England, 1485–1603
1D Stuart Britain and the Crisis of Monarchy, 1603–1702
1E Russia in the Age of Absolutism and Enlightenment, 1682–1796
1F Industrialisation and the People: Britain, c1783–1885
1G Challenge and Transformation: Britain, c1851–1964
1H Tsarist and Communist Russia, 1855–1964
1J The British Empire, c1857–1967
1K The Making of a Superpower: USA, 1865–1975
1L The Quest for Political Stability: Germany, 1871–1991
2A Royal Authority and the Angevin Kings, 1154–1216
2B The Wars of the Roses, 1450–1499
2C The Reformation in Europe, c1500–1564
2D Religious Conflict and the Church in England, c1529–c1570
2E The English Revolution, 1625–1660
2F The Sun King: Louis XIV, France and Europe, 1643–1715
2G The Birth of the USA, 1760–1801
2H France in Revolution, 1774–1815
2J America: A Nation Divided, c1845–1877
2K International Relations and Global Conflict, c1890–1941
2L Italy and Fascism, c1900–1945
2M Wars and Welfare: Britain in Transition, 1906–1957
2N Revolution and Dictatorship: Russia, 1917–1953
2O Democracy and Nazism: Germany, 1918–1945
2P The Transformation of China, 1936–1997
2Q The American Dream: Reality and Illusion, 1945–1980
2R The Cold War, c1945–1991
2S The Making of Modern Britain, 1951–2007
2T The Crisis of Communism: The USSR and the Soviet Empire, 1953–2000
2S The Making of Modern Britain, 1951–2007
Devaluation and Labour's Economic Policy, 1965-1969
- 3 things to know
- Component 2
Overview
Recall questions on why the National Plan failed, Wilson's resistance to devaluation, the new rate and the 'pound in your pocket' broadcast of 1967, and the Prices and Incomes Board, Selective Employment Tax and Industrial Reorganisation Corporation.
What you need to know
Answer each one before you reveal it.
What was the purpose of the Prices and Incomes Board established in 1965?
Why was the Industrial Reorganisation Corporation created in 1966?
Questions from this subtopic
Each one with the model answer underneath.
- 1
Why did the National Plan of 1965 fail?
Model answer
The July 1966 deflationary measures introduced to defend sterling prioritised the exchange rate over growth, undermining the plan
- 2
Why did Wilson resist devaluing sterling from 1964 to 1967?
Model answer
He associated devaluation with Labour's 1949 devaluation and feared it would damage the party's economic credibility
- 3
On what date was sterling devalued, and by how much?
Model answer
18 November 1967, from $2.80 to $2.40, a reduction of approximately 14%
- 4
What was the new exchange rate for sterling after the 1967 devaluation?
Model answer
$2.40 (down from $2.80)
- 5
What claim did Wilson make in his broadcast about devaluation, and why did it damage his credibility?
Model answer
He claimed devaluation did not affect 'the pound in your pocket', which ignored the impact on import prices
- 6
What was the purpose of the Prices and Incomes Board established in 1965?
Model answer
To monitor wage increases and prices as part of voluntary incomes policy
Other ways to work this
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Every question in 2S The Making of Modern Britain, 1951–2007, on a schedule.
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