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Harold Macmillan 1957 - 1963
Selected to steady the Conservative Ship in the wake of Suez
Re-assuring and well-connected
Continued Keynsian ideas to encourage full employment
- Avoided confrontation with Unions
- ‘Stop-go’ Economics
- Using interest rates and tax rates to stabilise economy
- Lack of plan - letting free market direct investment and prices, but reacting to consequences.
- Stagflation
- Stagnant growth rates but rising inflation