Denis Winston Healey Biography and Timeline — Page 4

Shadow Minister

Healey becomes Shadow Foreign Secretary after Labour returns to opposition.

European Policy

Healey participates in Labour’s internal debate over British membership of the European Communities.

Role range: 1970-1972

Shadow Treasury Appointment

Healey becomes Shadow Chancellor of the Exchequer after Roy Jenkins leaves the post.

Role range: 1972-1974

Shadow Minister

Healey is appointed Shadow Chancellor after Roy Jenkins resigned in a row over Europe.

Europe

Healey handles foreign affairs for Labour during internal arguments over Europe.

Role range: 1970-1972

Economy of Great Britain

Healey develops a programme of higher taxation on the largest incomes before Labour returns to office.

Labour Party Conference

Healey warns the Labour conference that wealthy taxpayers will face sharply increased marginal rates.

Tax Policy

Healey warns that high earners will face sharply increased marginal taxation under a Labour government.

Role range: 1972-1974

Property Speculators

Healey develops a combative tax message against property speculation before Labour returns to office.

Role range: 1972-1974

Social Contract

Healey argues Labour can fight inflation through cooperation with the trade unions.

Role range: 1972-1974

Economy of Great Britain

In The Times Healey says that he would "squeeze property speculators until the pips squeak".

Chancellor of the Exchequer

Healey is appointed Chancellor of the Exchequer, 1st term.

Role range: 1974-1974 – 1974-1974

Pay Policy

Healey becomes Chancellor as inflation and wage pressure dominate economic policy.

Role range: 1974-1979 – 1974-1979

First Budget

Healey delivers his first Budget shortly after Labour returns to office.

Role range: 1974-1979 – 1974-1979

March Budget

Healey presents an emergency Budget combining tax increases with food subsidies and pension support.

Role range: 1974-1979 – 1974-1979

Social Contract

Healey frames his first Budget around inflation, subsidies and cooperation with unions.

Role range: 1974-1979 – 1974-1979

Budget

Healey raises the top rates on earned and unearned income while increasing food and pension subsidies for poorer households.

Role range: 1974-1974 – 1974-1974

Treasury Appointment

Healey becomes Chancellor of the Exchequer when Labour returns to government.

Role range: 1974-1979 – 1974-1979

Economy of Great Britain

Healey promises to squeeze property speculators until the pips squeak and attacks profits made from rapidly appreciating agricultural land.

Role range: 18

Chancellor of the Exchequer

Healey continues as Chancellor of the Exchequer after Labour wins the October 1974 general election.

Role range: 1974-1979 – 1974-1976

November Budget

Healey introduces a second Budget to address inflation, taxation and the deteriorating economic position.

Role range: 1974-1979 – 1974-1979

Budget Policy

The 1974 Budget under Denis Winston Healey sets out the Government's taxation, expenditure and borrowing plans.

Role range: 1974-1979

Budget

Denis Winston Healey presents the 1974 Budget to the House of Commons as Chancellor of the Exchequer.

Role range: 1974-1979

Social Contract

Healey works with trade unions under Labour's Social Contract approach to pay and inflation.

Role range: 1974-1979 – 1974-1979

April Budget

Healey presents a Budget focused on inflation control, public expenditure restraint and industrial recovery.

Role range: 1974-1979 – 1974-1979

Social Contract

Healey uses the Budget to support anti-inflation policy within the Social Contract framework.

Role range: 1974-1979 – 1974-1979

Devaluation

Sterling devaluation increases pressure on Healey to secure stricter wage restraint.

Role range: 1974-1979 – 1974-1976

Economy of Great Britain

Healey gives trade unions one week to accept a ten percent limit on pay increases.

Role range: 1974-1979 – 1974-1976

Pay Policy

Healey supports the 6 pounds weekly limit as part of the anti-inflation package.

Role range: 1974-1979 – 1974-1979

Six Pound Pay Limit

Healey supports a voluntary limit of six pounds on weekly pay increases to slow inflation.

Role range: 1974-1979 – 1974-1979

Social Contract

Healey backs the six pounds weekly pay limit as part of the anti-inflation package.

Role range: 1974-1979 – 1974-1979

Economy of Great Britain

Healey moves in the 2nd reading of a Bill to control pay increases, passed by 294 to 16.

Role range: 1974-1979 – 1974-1976

Pay Policy

Healey sees pay-control legislation progress after intense Commons debate.

Role range: 1974-1979 – 1974-1979

Budget Policy

The 1975 Budget under Denis Winston Healey sets out the Government's taxation, expenditure and borrowing plans.

Role range: 1974-1979

Budget

Denis Winston Healey presents the 1975 Budget to the House of Commons as Chancellor of the Exchequer.

Role range: 1974-1979

Economy of Great Britain

Healey advocates higher taxation on upper incomes while using additional revenue to support poorer households.

Role range: 1974-1979 – 1974-1976

Higher Rate VAT

Healey introduces a higher VAT rate on selected goods as part of measures to restrain consumer demand.

Role range: 1974-1979 – 1974-1979

Inflation

Healey makes inflation control the central economic challenge of his chancellorship.

Role range: 1974-1979 – 1974-1979

Pay Policy

Healey argues that wage restraint is essential to reducing inflation.

Role range: 1974-1979 – 1974-1979

Pay Policy

Healey introduces a strict pay policy to restrain wage inflation.

Role range: 1974-1979 – 1974-1979