economic issues 1939-1951
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- Created on: 15-06-17 20:33
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- Economic issues
- Mobilisation of resources during wartime
- extension of govt control
- War broke out: Emergency powers (defence) act 1939
- ministries were set up for food and shipping, information and economic warfare
- War government control extended over industry directly and indirectly. industries machinery and labour diverted to the war work. production methods improved.
- Ernest Bevin and the organisation of the war work
- Bevin made sure that those unemployed were in work and mobilised the workforce efficiently for total war
- control of food supplies
- Loss of shipping due to German U-boat attacks, import of food had to be reduced
- Rationing of food, clothing and fuel, etc.
- extension of govt control
- post war economic adjustment
- Rationing: Living standards decreased to focus on production for exports - austerity. financial and economic crisis of 1947 meant that 1948 rations were below wartime average. Bread and potatoes rationed for the first time between 1946-48. food rationing did not end till 1954
- rebuilding exports: Export drive the twin of Austerity
- Peacetime industrial production: industries had to switch quickly to peacetime productions. government controls maintained to allocate materials. economy had to work at full capacity. wartime controls on prices and wages were maintained
- Economic planning and employment: believed in state planning to support export drive and maintain full employment - through nationalisation. taxation, interest rates and budget to stimulate the economy and avoid inflation and unemployment
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- Mobilisation of resources during wartime
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