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The People’s PeaceBritish History 1945-1989$
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Kenneth O. Morgan

Print publication date: 1990

Print ISBN-13: 9780198227649

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780198227649.001.0001

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The Zenith of One-Nation Toryism 1957–1961

The Zenith of One-Nation Toryism 1957–1961

Chapter:
(p.158) 5 The Zenith of One-Nation Toryism 1957–1961
Source:
The People’s Peace
Author(s):

Kenneth O Morgan

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198227649.003.0005

The Suez Canal incident brought painful realizations of diminished power in the international arena along with currency restrictions, social spending cuts, and petrol rationing due to related oil supply issues. Britain implemented cuts in its military budget and activity and abandoned the nuclear defence programme, which further highlighted the spectre of dependency with the United States. However, there were successes on the domestic front brought about by conservative financial management and led to moderate economic growth, the resolution of another sterling crisis, low unemployment, and the stabilization of the balance-of-payments deficit led to an almost total Conservative party victory in the 1959 elections. Challenges to Tory rule were presented by the Labour Party as well as the growing nuclear disarmament group. The rise in living standards and affluence also masked problems of social inequality for marginalized citizens, housing inadequacies, and the monopolies of real estate developers.

Keywords:   Suez Canal, Britain, currency, military budget, nuclear defence programme, petrol rationing, social inequality, Toryism, Labour Party, nuclear disarmament

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