The Coming Of The Depression Flashcards
What were the causes of the depression
Competition from abroad
Obsolete methods
Import duties
Unemployment
Savings
Wall Street crash
Consequences of the depression
Mass unemployment
Britain no longer being a lead country
Confidence in businesses fell
Confidence in the government fell
Governments response to the depression
Means test
Import duties act 1932
What does labour intensive mean
Requiring a large amount of work or a large workforce to produce goods and services
The percentage of unemployment in Britain in 1928/1929
7%
The percentage of unemployment in Britain in 1930
11% 2 million people
The percentage of unemployment in Britain in 1931
15%
The percentage of unemployment in Britain in 1932
15.8% over 3 million people
What happened to britains exports in 1929-1931
They fall by half because places like Canada were buying us steel German coal and Indian cotton which resulted in British jobs being lost
Why happened to the trade in 1931
There was a deficit of £114 million
What happened in 1932
It was the imports duties act it was designed to protect British industry. Tariffs were meant to help British industries as they would make non-UK goods more expensive, and so ideally people and companies would just buy UK goods instead
What were post war problems for Britain’s economy
Britain was too reliant upon shipbuilding and coal they had not modernised enough
Not enough new jobs were being created in new industries such as car building and chemicals
The depression cycle
Businesses lose money
As a result businesses Sack workers
Workers have no wages coming in
Workers may not have money to spend in shops and businesses
Long term reasons for the depression
Outdated practices - heavy industry e.g coal
Unemployment
Government actions 1931 raised income tax
The amount of tonnes of shipbuilding in 1930 and 1933
1.4 million tonnes
133,000 tonnes
