What were some of the differences between the labour and conservatives and economic policies?
Labour - took serious measures due to economic challenges, war debts and food shortages
Included rationing policies
Basic rate of income tax were high
Prices for utilities and public transport were kept controlled
Conservatives - taxes reduced making the top rate 85%.
Food rationing was abolished by 1954
Frequently reduced the interest rates, encouraged people to borrow money to buy houses and consumer goods
Macmillan's era of 'you never had it so good' sustained economic growth