Economic Impact of WW1
- Created by: Ellie
- Created on: 15-01-15 18:54
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- Economic Impact of WW1
- Had to produce millions of arms to help the war effort
- shell production increased to 187 million a year
- Due to high demands prices were pushed up
- created shortages of workers & materials
- private industry could not cope on it's own
- DORA
- Gave the state more power of industries
- Introduced a minister of munitions
- Gave the state more power of industries
- conversion of peacetime to wartime conditions
- factories
- cost of the war
- £2,600 million
- had to increase general tax to pay off debts
- trading was halted
- some boats destroyed
- effected efficency
- some boats destroyed
- Britain became financially dependant on the USA
- ended up importing more than exporting
- reduced money entering the economy
- Had to produce millions of arms to help the war effort
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