Who held the balance if power at the start of 1929?
59 liberal MPs
Who had a majority in the Lords?
the Tories
What was unemployment like at the start of 1929?
1.2 million especially in the north and midlands
When RMD came to power in 1929 what did he aim to do?
What was the effect of the housing act 1930?
What was the effect of the unemployment insurance act 1930?
What was the effect of the 1930 road traffic act?
What was the effect of the coal mines act 1930?
How long was britain in an economic depression after the stock market crash?
-11 years
What happened to world trade between 1929 and 1932?
fell from $6.9 m to $2.7m
What economic policy did snowden believe in?
Retrenchment - cutting public spending to maintain confidence in the £ instead of deficit financing (borrowing and raising taxes)
Why did the 1929-31 fall in world trade effect Britain especially badly?
World trading companies did not need and couldn’t afford nor afford British financial services, shipping or port facilities
What did Snowden refuse to do until 1931?
Cut unemployment and welfare spending until 1931 by which time britains welfare payments were higher than most other countries
What were the three possibilities that Snowden and Keynes considered replacing retrenchment with?
Cutting production
Public works
Radical option
How would cutting production help the economy?
Reducing production would maintain prices and keep British industries viable instead of risking overproduction
What were the effects of the 1931 coal mines act?
What did the coal mines reorganisation committee do?
What did the agricultural marketing act allow farmers to do?
When and what did the developement loan and colonial loan acts do?
What did veteran left winger George Lansbury commission using public money?
Hyde park lido
Which labour MP produced a set of radical solutions to the economic crisis in 1930 and what did they consist of?
What did the Mosley memorandum propose?
How did the cabinet react to the mosley memorandum?
What did this rejection from labour spur mosley on to do?