Economic Impact of WW1

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  • 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
    • 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
    • Britain became financially dependant on the USA
    • ended up importing more than exporting
      • reduced money entering the economy


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