Changes of Britain Since 1945 Post World War Ⅱ

The Most Controversial Takeovers The iron and industries were badly in need of modernization. Efforts to make these businesses profitable and competitive in the international market were hampered by outdated equipment and inadequate facilities.

The Winter of 1947 Fuel shortages, gas rationing, inadequate food and shelter, and one of the coldest seasons on record all added to the nation ’ s problems. Unemployment reached 2.3 million, and the monetary crisis worsened.

Economy Recovered After 1948 the United Kingdom took advantage of the Marshall Plan (a four- year economic program designed by the United States to reconstruction) and reestablished its export industries soon.

The Affluent Society Created a surplus in British trading accounts. Cars and television soon became common. The government undertook a program of motorway expansion. Private investors created the first independent television network to compete with the government-owned BBC.

Accomplishments 1953 A British expedition scaled the Mount Everest, another British expedition crossed Antarctica British athlete Roger Bannister became the first person to run a mile in less than four minutes. In the early 1960s, music groups such as the Beatles and the Rolling Stones swept the world.

Britain in Decline During the 1960s and the 1970s By the mid-1960s Britain was mired in an economic slowdown. Massive dock strikes in both 1966 and 1967 severely affected British exports. Shipbuilding, textiles, coal, and steel were decaying rapidly. Oil crisis in 1973 forcing British industries to use more coal. Wages and prices spiraled out of control.

The Thatcher Revolution The Conservatives won the election in 1979 under their leader, Britain ’ s first female prime minister, Margaret Thatcher. Thatcher ’ s policy was based on the theory of monetarism.

Thatcher’s Policy Strictly controlled the money supply to reduce inflation. Lowered tax rates to encourage investment. Minimized government intervention in industry to remove restrictions on the expansion of businesses. Privatized industry. Relaxed government regulation. Removed government subsidies.

Britain in the 1990s Thatcher resigned in John Major succeeded Margaret Thatcher as prime minister in The stock market crisis known as 'Black Wednesday' on 16/9/1992, when Britain was forced to pull out of the European Exchange Rate Mechanism. Tony Blair became prime minister in May 1997.

Reference A New Course on Cultures of English- speaking Countries