The OPEC Oil Crisis of 1973 disrupted economies throughout the world. By 1974 inflation was 15 %. Edward Heath’s decision to call a snap election in February 1974 failed to alleviate the dire situation. A second election in the October also failed to address the mounting crises. The new Labour PM, Harold Wilson fared no better than Heath. TV broadcasts were closed down at 10.30 p m to save electricity. The Sterling was weakened by mounting debts and imports were more expensive. The National Union of Miners demanded higher wages amid rising inflation. In Northern Ireland British armed forces clashed regularly with the IRA.
- Sandbrook, Dominic, Seasons in the Sun, Britain 1974-1979, Penguin Press, 2013, ISBN 0141032162
- Egerton, David, The Rise and Fall of the British Nation, Penguin, 2015, ISBN 0141975970
- Background to the 1974 economic and political meltdown including the OPEC oil crisis of 1973
- Inability of Ted Heath (Conservative) and Harold Wilson (Labour,) the two PMs of 1974, to respond effectively to the international and domestic challenges including 15% inflation and union demands for higher wages.
- Short term and longer term impact of the dramatic events of 1974 on British politics and the economy
By the end of this course, students should be able to:
- Gain an understanding of the nature of the crises facing the British government in 1974
- Discuss the failures of both Edward Heath and Harold Wilson as Prime Ministers during the crises
- Understand the short term and longer term consequences of the series of cries in 1974
