(ALREADY CAME UP)British Economy 1939-1964

Question 1

a)Name the act that gave the government extraordinary powers in WW2 and b) what were the extraordinary powers?

Answer 1

a)Emergency Powers (Defence Act) 1939

b)Gave the government enormous powers over both private and public life and the power to intervene in the economy

Question 2

By what percenatage was the standard rate of income tax(IT) raised by and b) how many more people paid it in 1944 , than 1938?

Answer 2

a)Raised from 25% to 50%

b)Before the war,1m people paid IT (£3 each), 1944 = 7m people paying it (£30 each)

Question 3

What happened to GB’s gold and reserves in WW2?

Answer 3

-Exhausted by 1940

Question 4

What help did the USA provide GB with in WW2?

Answer 4

-Lend-Lease agreements: GB would be given American resources and Bill would be paid after the war

Question 5

How much of the global $50bn Lend-Lease grants by the US went to GB?

Answer 5

-2/3rds

Question 6

What was the position of GB’s exports and import in WW2?

Answer 6

Trade diminished:
-exports fell by 70% in volume, fell 50% in value
-Imports fell by 25%, rose 33% in value
-Trade deficit increased significantly

Question 7

How did farming benefit from the war?

Answer 7

-Need for national self-sufficiency (reduced trade) led to farming benefitting
-Increased use of technology (mechanisation[tractors] and fertilizers) led to wheat production doubling and arable land increasing by 50% in favour for livestock farming

Question 8

Which industry performed badly in WW2?