Jarrow March

Question 0

Conservative party

Answer 0

Political party that strongly supported the empire and favoured little role for the government in the economy. Strongly supported by wealthier people.

Question 1

Reasons for britains economic success

Answer 1

Good management on the nations finances (getting money from taxes and not from borrowing)
Gold standard
Free trade

Question 2

Exports

Answer 2

Goods and services sold to other countries

Question 3

Free trade

Answer 3

No taxes placed on imported goods - traditional British trade policy

Question 4

General strike

Answer 4

When trade unions join together to stage a nationwide strike, as happened in 1926 in Britain.

Question 5

Good standard

Answer 5

Traditional British policy whereby money issued was backed by gold

Question 6

Imports

Answer 6

Goods or services bough from other countries

Question 7

Labour

Answer 7

Moderate socialist party in favour of a fairer society, greater government spending and government control of major industries, such as coal mining.

Question 8

Liberal party

Answer 8

Until 1918 one of the “big two” in British politics. Favoured moderate reform and free trade. It went into decline after world war 1 as it lost votes to the Labour Party

Question 9

The depression

Answer 9

A period of prolonged decline in economic growth, resulting in mass unemployment. It was caused by the Wall Street crash of 1929.

Question 10

Inflation

Answer 10

An annual rise in prices. Rising prices can see workers looking for higher wages, which can lead to strikes.

Question 11

Protectionism

Answer 11

The introduction of taxes on imports to make them more expensive. It is hoped that this will encourage domestic industry by reducing completion from imported goods. The British government imposed tariffs on goods from outside it’s empire in 1932, but left trade free with countries in the empire. This policy was called imperial preference.

Question 12

Economic conditions in Britain after WWI

Answer 12

The war had cost a lot of money which the British government borrowed from America.
The government immediately began the process of returning soldiers to civilian life - díshlogadh
Industries that the government has taken control of during the war, such as mining and the railways were returned to their owners.
Due to inflation workers could buy Less with their wages - many strikes as workers looked for higher wages.

Question 13

How did labour come to power in 1924

Answer 13

The Labour Party led by Ramsay McDonald formed its first ever government with liberal support. They introduced the housing act which helped to overcome a severe post-war shortage.

Question 14

General strike in Britain in 1926

Answer 14

Return of the gold standard

• currency stronger but exports more expensive.
• demand for British exports fell
• TUC backed the miners

Question 15

How the British government dealed with economic problems caused by the Great Depression

Answer 15

Exports decreased, unemployment rose.
The government would have to increase spending to pay the unemployment benefit.
Value of the pound fell
May commission set up by the government predicted economic disaster unless there were severe tax rises, cuts in public sector pay a 20% reduction in unemployment benefit.