Britain- National Gov. and economy

Question 1

Response to labour (1929-31) and the national gov (1931-35)

Answer 1

Brit exits the gold standard after the nat gov comes to power in 1931 and devalues the pound. Enabling Brit. To exit the depression quicker than other counties

Question 2

Recovery (gold standard and the national government)

Answer 2

Brit exits gold Stan and devalues pound in Sep 1931 which causes:

1. Cut in interest rates from 6% to 2%. Allowed more borrowing thus increasing spend+ employ
2. Housing boom with value of mort. Increase to £636mill by 1937
3. 279,000 new houses built 1935-36
4. Gov allows degree of inflation thus sim. Spend
5. Devalue pound makes Brit export cheaper and more compet
6. Banks become more will. To spend
7. Nat gov restrict Brit debt

Question 3

The national government during ww2

Answer 3

• no reserv. About interfer. People’s lives necessary for total war
• ration and conscript intro straight away
• resignation for employ made compulsory in 1941 8.5 mill compulsory work orders
• people accepted the need to give up some freedom to defeat fascism

Question 4

The outcome (economy)

Answer 4

• Between 1932-1937 real incomes rise by 19%
• Indust. Produce increase by 46%
• GNP rises by 23%
• Exports increase by 28%
• Unemploy fell to 8.5%

Question 5

Economic planning council 1947

Answer 5

This was several committees which oversaw checks on issues such as production and imports. It was to be a “planned economy”