Titlebook: Industrial Subsidies; The UK Experience Colin Wren Book 1996 Palgrave Macmillan, a division of Macmillan Publishers Limited 1996 depression

RUPT

The Expansion of Industrial Assistance (1960s),ose sharply, from around 300 000 in June 1961 to just over 515 000 in June 1963. The rise in unemployment was felt across all sectors of the economy, but was most severe in the engineering and metal industries, and in coal-mining, where supply had caught up with demand and pits were closed, particul

牌帶來

,The Retrenchment and Reinvigoration of Industrial Subsidies (1970–4),valuation as to any consequence of industrial policy. The Conservatives inherited this position a year later, but also inherited sluggish economic growth, wage inflation which reached 12–13 per cent during 1970 and unemployment at more than half a million (see Figure 5.1). The pre-election pledge wa

復(fù)習(xí)

The Heyday of Industrial Assistance (Late 1970s),followed, so that by the end of 1973 unemployment had nearly halved to stand at just under half a million. Fiscal and monetary measures were taken during 1973 to curb demand, but such was the strength of growth that a deterioration in the balance of payments developed, despite currency depreciation

Lethargic

Change and Continuity in Industrial Assistance (Early 1980s),tions in wage inflation, and the introduction of a monetary target. Price inflation bottomed out at around 8 per cent in 1978, from 24 per cent three years earlier, but the incomes policy reduced the relative pay of publicsector employees and the attempt to catch up led to the ‘winter of discontent’

obstinate

AVOID

Conclusions,es which may be described according to the allocative, stability and distributional functions of government. As we have seen, these interventions initially involved very little real subsidy and were small in scale, so that the pre-war measures in the Special Areas consisted of some makework schemes,

鞏固

暫停,間歇

Palgrave Macmillan, a division of Macmillan Publishers Limited 1996

Charlatan

光明正大