Flashcards in Britain Transformed Responding to Economic Challenge Deck (5)
Sir Eric Geddes appointed by Lloyd George to implement greater cuts into public expenditure. Health, Welfare and Housing Budgets reduced from £205.8 million in 1920-21 to £182.1 million in 1922-23.
Unemployment levels in 1930
2.5 million, up from 1 million in 1929.
Special Areas Act
A measure that identified Tyneside, south Wales, west Cumberland and Scotland as regions in need of direct government assistance, but only a trickle of investment came to them.
Post-War Austerity 1945-51
Britain had accumulated over £4 billion of debt with the USA. Nationalisation occurred under new Labour Government. State took control of coal, power, railways, ship building and banking. Also wanted to get full employment.