Britain- Economic impact of WW1

Question 1

Why was there a fall in demand for British exports after WW1?

Answer 1

• high costs
• low productivity

Question 2

How did WW1 affect Britain’s economy in terms of ‘invisibles’?

Answer 2

• foreign investments
• shipping
• financial service

Question 3

What core industry was hit hard after WW1 and why was this crucial to the rest of the economy?

Answer 3

Mining was hit hard. It had been integral in causing the industrial revolution in the century prior.
As a result of the war:

• unions had grown rapidly
• support for the Labour party had grown

There was a general strike in 1926

Question 4

Difference in exports and re-exports pre and post WW1

Answer 4

1913: £255m exports + 110m re-exports
1918: £201m exports + £31m re-exports

Question 5

How much did Britain loan to dominion allies after WW1?

Answer 5

£2000 million

Question 6

What did the government initially do to ease the effect of the end of war?

Answer 6

Subsidised major industries such as mines and farms

Question 7

How significantly did the textile industry decline from 1918-1929?

Answer 7

15%

Question 8

Example of how demand abroad decreased for Britain after WW1

Answer 8

India had taken 50% of cotton exports in 1913 before the war, but this decreased to 20% by 1929