Lawson Boom in the UK economy
E507442
The Lawson Boom in the UK economy refers to the rapid, credit-fueled economic expansion and overheating in the late 1980s associated with Chancellor Nigel Lawson’s policies of tax cuts and financial deregulation.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Lawson Boom | 0 |
Statements (52)
| Predicate | Object |
|---|---|
| instanceOf |
economic boom
ⓘ
macroeconomic event ⓘ |
| associatedWithGovernment | Thatcher government NERFINISHED ⓘ |
| associatedWithOffice | Chancellor of the Exchequer NERFINISHED ⓘ |
| characterizedBy |
asset price inflation
ⓘ
credit-fueled expansion ⓘ financial deregulation effects ⓘ large current account deficit ⓘ overheating of the economy ⓘ rapid credit growth ⓘ rapid economic growth ⓘ rising inflationary pressures ⓘ strong consumer spending ⓘ surge in house prices ⓘ |
| country | United Kingdom ⓘ |
| criticizedFor |
allowing unsustainable demand boom
ⓘ
contributing to subsequent recession ⓘ insufficient monetary tightening early in the cycle ⓘ |
| economicGrowthRate | real GDP growth above 4% in several years ⓘ |
| endTime | early 1990s ⓘ |
| field | macroeconomics ⓘ |
| followedBy |
early 1990s recession in the United Kingdom
ⓘ
housing market crash in the early 1990s ⓘ sharp rise in unemployment in early 1990s ⓘ |
| hasCause |
financial deregulation
ⓘ
housing market liberalisation ⓘ loose monetary conditions relative to domestic demand ⓘ optimistic expectations about economic prospects ⓘ strong consumer credit expansion ⓘ tax cuts ⓘ |
| impactOn |
UK current account balance
ⓘ
UK financial sector ⓘ UK housing market ⓘ household indebtedness in the UK ⓘ public perception of Conservative economic competence ⓘ |
| inflationTrend | rising inflation towards the end of the 1980s ⓘ |
| interestRatePolicy | subsequent sharp increases in interest rates to curb inflation ⓘ |
| linkedTo |
debate over exchange rate mechanism membership
ⓘ
debate over monetarism in UK economic policy ⓘ |
| location | United Kingdom economy ⓘ |
| namedAfter | Nigel Lawson NERFINISHED ⓘ |
| peakPeriod | late 1980s ⓘ |
| policyAssociatedWith |
Big Bang financial deregulation of 1986
NERFINISHED
ⓘ
Nigel Lawson tax reforms ⓘ cuts in income tax rates ⓘ exchange rate targeting tendencies ⓘ reduction in top marginal tax rates ⓘ removal of credit controls ⓘ shadowing of the Deutsche Mark ⓘ |
| precededBy | early 1980s recession in the United Kingdom ⓘ |
| startTime | mid-1980s ⓘ |
| timePeriod | Thatcher era NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.