Economy of Great Britain
As Secretary of State for Energy, Lawson promotes greater competition and private-sector participation in energy, helping establish policies that precede later gas and electricity privatisations.
Economy of Great Britain
Great Britain · Government / Conservative Party Government. Chronological records from PostgreSQL.
Economy of Great Britain — page 2 of 3
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1981–1989years on this page
1981
1983
Economy of Great Britain
Inflation reaches a low point of 3.7%
Economy of Great Britain
Points to lowest inflation since 1968 & record productivity
Economy of Great Britain
Introduces plans for Government expenditure cuts to the Cabinet
Economy of Great Britain
Makes plans to reduce public expenditure by 1 billion pounds
Economy of Great Britain
By 1983 at British Steel, there were only 71,000 staff with output almost at 1980s levels and losses reduced to 256M
1984
Economy of Great Britain
MacGregors approach to turning the NCB into a profitable concern is similar to the line he had taken at British Steel, cut jobs and close unprofitable pits, this leads to the protracted and increasingly bitter 1984-1985 miners strike
1985
Economy of Great Britain
Lawson's 1985 Budget reduces National Insurance contributions for lower-paid workers while broadening the value-added tax base, continuing a shift away from direct taxation.
1986
Economy of Great Britain
Critics later argue that exchange-rate targeting, monetary conditions and fiscal policy during the Lawson boom contributed to rising inflationary pressure.
Economy of Great Britain
Lawson promotes wider personal share ownership and introduces tax measures intended to encourage investment and support charities.
Economy of Great Britain
The strong expansion of the British economy during the later 1980s becomes widely known as the Lawson Boom and is accompanied by further reductions in personal income-tax rates.
1987
Economy of Great Britain
From early 1987 until March 1988, the Treasury informally shadows the Deutsche Mark even though the United Kingdom is not a member of the European Exchange Rate Mechanism.
1988
Economy of Great Britain
An article by Walters published in The American Economis, "Unfortunately in Britain we can witness a performance of this tragedy, currently still running, enacted by Mr Lawsons misguided shadowing of the Deutschmark during 1987 to March 1989". An article by Walters published in The American Economist describes the "tragic consequences" of the "half-baked" European Monetary System"
Economy of Great Britain
The 1988 Budget abolishes the previous multiple higher rates of income tax, retains a single 40 percent higher rate and raises the principal personal allowances substantially.
1989
Economy of Great Britain
His second period as full-time Downing Street adviser, lasting just five months, from May to October 1989, proved so contentious that it hastened the resignation of the Chancellor, Nigel Lawson
Economy of Great Britain
Britain agrees to enter the European Exchange Rate Mechanism (ERM) when the 3 convergence conditions are met
Economy of Great Britain
Official interest rates rise to 15 percent in October 1989 as the Government attempts to restrain inflationary pressure.
Economy of Great Britain
Interest rates rise to 15%
Economy of Great Britain
Major & Hurd convince the Cabinet to sign Britain up to the European Exchange Rate Mechanism (ERM) effectively guaranteeing that the British Government would follow a policy preventing the pound and other member currencies from fluctuating by more than 6%
Economy of Great Britain
Major & Hurd convince the Cabinet to sign Britain up to the European Exchange Rate Mechanism (ERM) effectively guaranteeing that the British Government would follow a policy preventing the pound and other member currencies from fluctuating by more than 6%
Economy of Great Britain
Major & Hurd convince the Cabinet to sign Britain up to the European Exchange Rate Mechanism (ERM) effectively guaranteeing that the British Government would follow a policy preventing the pound and other member currencies from fluctuating by more than 6%
Economy of Great Britain
Major and Hurd convince the Cabinet to sign Britain up to the European Exchange Rate Mechanism (ERM) effectively guaranteeing that the British Government would follow a policy preventing the pound and other member currencies from fluctuating by more than 6%.
Economy of Great Britain
With UK inflation at three times the rate of Germany's, interest rates at 15% and the "Lawson Boom" about to bust, the conditions for joining the European Exchange Rate Mechanism (ERM) were not favourable at that time.
Economy of Great Britain
Alan Walers' 2nd period as Downing Street adviser lasts just from March to October 1989
Economy of Great Britain
Alan Walters' term as adviser leads to the resignation of the Chancellor, Nigel Lawson
Provenance and editorial notes
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