How the Second Labour Government dealt with the aftermath of the Wall Street Crash Flashcards

1
Q

Who was the leader of the second Labour government?

A

James Ramsey MacDonald.

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2
Q

Which acts did this government manage to pass?

A
  • Arthur Greenwood’s Housing Act - 245,000 slums cleared for 700,000 new homes.
  • Land Utilisation Act -
  • Agricultural Marketing Act - committee for ficing produce prices.
  • Increase in unemployment benefits
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3
Q

Which acts did this government fail to pass?

A
  • An education bill to raise school leaving age
  • A bill to increase the maximum working week to 48 hours
  • Plans to repeal the 1927 Trade Union Act
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4
Q

When did the Wall Street Crash hit the American Stock market?

A

October 1929.

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5
Q

How did the Wall Street Crash affect Britain?

A
  • British export value fell by half
  • Unemployment figures rose to almost 3 million
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6
Q

Which year did MacDonald set up the Economic Advisory Council?

A

1930.

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7
Q

What was the May Committee?

A

A group set up to advise the government on reducing their expenditure.

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8
Q

What did the May Committee publish in their report on the 31st July 1931?

A

There would be a budget deficit of £120 million by 1932 unless severe cuts were made to public sector employee wages and unemployment benefits.

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9
Q

Who was Philip Snowden, and how did he feel the crisis should be handled?

A

Philip Snowden was the Chancellor of the Exchequer, and believed that the crisis should be dealt with by maintaining the Gold Standard and balancing the budget.

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10
Q

Who was Oswald Mosley, and how did he believe the crisis should be handled?

A

Oswald Mosley was a junior minister who believed that the crisis should be handled by expanding the Government’s spending policy, and financing public work schemes and social reforms through Government loans.

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