Economy under Conservatives 1951-64

• Between 1950-60 GDP averaged 2.7% growth per year

  (Compared to to Germany & Japan at 8% GDP)
• Decline of world trade:

  1960 decrease to 16.5% from 25.5% in 1950
• 216000 registered unemployed in 1956
• Reduction of purchase tax from 100% (1951) to 25% (1963)
• Rise in car ownership 500% 1950-64
• TV ownership increased 4%-91%
• 1964- Labour inherited balance of payments deficit of £750 million
• 1961- reduction of working week from 48 hours to 42 hours
• Wage rise of 95%