Section 4 facts Flashcards
When was Greenwood’s Housing Act passed?
1930 - Increased housing subsidies and introduced new slum clearance schemes
When was the Coal Mines Act passed?
1930 - Reduced miners’ working hours from 8 to 7 and a half hours
When was the Land Utilisation Act and Agricultural Marketing 1931 passed?
1931 - Established marketing boards for fixing prices and arranging supplies efficiently
When was the London Transport Bill passed?
1931 - Created a public corporation responsible for providing cheap and efficient public transport for London
Between 1929 and 1931 how much had the value of British exports fallen?
By half
How high was unemployment by 1931/1932?
2.5 million in 1931 and 3 million in 1932
When did MacDonald set up the Economic Advisory Council?
1930 - Composed of industrialists and economists to provide advise
What did MacDonald traditionally believe in?
A Balanced Budget
When was the banking crisis?
1931
When was the May Committee’s report published?
31st July 1931
What did the May Committee predict?
Budget deficit of £120 million by 1932 unless severe cuts made
What were the recommended cuts according to the May Committee’s report?
Cuts amounting to £96.5 million and a 20% cut in unemployment benefit
When did the cabinet vote for/against the cuts agreed?
23rd August 1931, 11 to 9 votes
When did MacDonald resign?
24th August 1931
What was MacDonald asked to do when he visited the King?
Form a National Government
Which 3 Labour cabinet members followed MacDonald?
Snowden, Sankey and Thomas
How many seats did the National Government win in the 1931 election?
554 seats
Out of the National Government seats won how many of these were Conservative seats?
473 seats
How many seats did the National Government win in 1935?
432 seats
What did the National Government do in financial policy in 1931?
Come off the Gold Standard
What cut did the National Government make to unemployment benefits?
10%
By how much did the National Government lower interest rates in 1932?
2%
When was the Import Duties Act passed?
1932 - Imposed tariffs on British goods with exemptions for the British Empire
When was the Special Areas Act passed?
1934 - Provided government aid to the most depressed areas
When was the Holidays with pay act passed?
1938 - Gave workers right to one week’s paid holiday
When did Baldwin take over as prime minister?
1935
When did Baldwin retire?
1937
Who succeeded Baldwin as prime minister?
Chamberlain
When was the Wall Street Crash?
October 1929
In July 1931 at what rate were foreign investors withdrawing money from British banks?
£2.5 million a day
By what percent was the pound devalued?
30%
How many houses were built as a result of the private house-building boom?
2 million
How many council houses were built between 1931 and 1940?
700,000
What duty did the Import Duties Act impose on imports in 1932?
10%
When was the Ottawa Conference?
July-August 1932
What did the Ottawa Conference result in?
Agreements with dominions to give British/Dominions goods preference against other countries
Did tariff and imperial preference have a significant impact on economic recovery?
No
Did devaluing the pound prove to be successful?
It made British exports cheaper and easier to sell, however many other currencies did the same thing making it less effective