What part did economic factors play in the development of the British Empire: 1914-1947

Question 1

Economic impact of WW1 (6 examples)

Answer 1

• Cost over £35,000 million ($4 billion) from the US (Loan-Lease) 13x that of the Boer War
• Britain lost traditional markets to competitors to produce for the war:
• Britain’s textiles faced competition from Japan
• British global manufactured goods fell from 30.2% in 1913 to 20.4% by 1929
• Howeverwere to use colonies to soften the blow
• Took 59% of its investment and 43% of its exports in 1927

Question 2

Britain’s reliance on Empire

Answer 2

Exports to the Empire rose
-37.2% in 1913 - 44% in 1934
-Motor vehicles - 67.4% up to 71.7%
-Railway Carriage - 58.4% up to 68.3%

-General 10% tax on all imports except from Crown Colonies

-Imperial imports: 1913-24.9%, 1934-35.3%

Question 3

Economic issues during WW2

Answer 3

-Lost 11.7M tons of shipping in the war (54% of merchant fleet at the start of the war)

-⅓ of overseas assets sold during the war

Question 4

Examples where abandon control of cost ineffective colonies but invest in ones where industry could benefit Britain

Answer 4

-Colonial Development and welfare Act of 1940:Wrote some off colonial debts and provide colonial grants or loans of up to £5 million per year

-Colonial Development Act of 1945: Increases aid to £120 million over ten years but requires colonies to produce plan to show how they intend to use money