1. British Politics Conservative Party
The major right wing party in Britain which developed from the Tories in the 1830s. It advocates a mixed economy, and encourages property owning and free enterprise.
Labour Party
British political party, formed in 1900 as an amalgamation of various trade unions and socialist groups, generally supporting the interests of organised labour and advocating democratic socialism and social equality.

2. Right wing
A general belief that things are better left unchanged. A term for an individual or a political faction that advocates very conservative policies. Right-wing groups generally support free enterprise. This means an economic system where few restrictions are placed on business activities and ownership. Governments generally have minimal ownership of enterprises in the market place. This system aims for limited restrictions on trade and minimal government intervention.
Left wing
The supporters of politics designed to promote greater freedom, power, welfare or comfort of the common people.
Socialism
An economic theory or system in which the means of production , distribution, and exchange are owned by the community collectively, usually through the state. It is characterised by production for use rather than profit and by equality of individual wealth.

3. Capitalism
An economic system based on the private ownership of the means of production, distribution and exchange, characterised by the freedom of capitalists to operate or their property for profit in competitive conditions.
Nationalisation
Putting industry and resources under state control or ownership.

4. British Prime Ministers 1945-1990
Clement Atlee 1945 to 1951 Labour Winston Churchill 1951 to 1955 Conservatives Anthony Eden 1955 to 1957 Conservatives Harold Macmillan 1957 to 1963 Conservatives Alec Douglas-Hume 1963 to 1964 Conservatives Harold Wilson 1964 to 1970 Labour Edward Heath 1970 to 1974 Conservatives Harold Wilson 1974 to 1976 Labour James Callaghan 1976 to 1979 Labour Margaret Thatcher 1979 to 1990 Conservative