Legacy of WW1
small summary of immediate effects ww1 had on Britain
- Created by: ysclayton
- Created on: 08-04-14 14:43
View mindmap
- Legacy of WW1
- ECONOMIC
- 1917: Government spending amounted to 60% of GNP
- Government raised capital needed for war by borrowing and increasing income tax.
- 1918 National Debt= £8,000m
- 3.5 m people receiving some form of war pension or allowance
- War produced over investment in staple industries. Short term post War Boom with spiralling inflation.
- British Staple Industries in long term decline.
- Foreign Competition from Germany and USA
- Handicapped by failure to adapt to new trends or reinvest. Lacked capital for new machinery.
- Wartime Blockade obliged foreign countries, which had once been major purchasers of british goods, to produce for themselves and develop their own manufacturing industries. E.G. india and cotton
- ECONOMIC
- 1917: Government spending amounted to 60% of GNP
- Government raised capital needed for war by borrowing and increasing income tax.
- 1918 National Debt= £8,000m
- 3.5 m people receiving some form of war pension or allowance
- War produced over investment in staple industries. Short term post War Boom with spiralling inflation.
- British Staple Industries in long term decline.
- Foreign Competition from Germany and USA
- Handicapped by failure to adapt to new trends or reinvest. Lacked capital for new machinery.
- Wartime Blockade obliged foreign countries, which had once been major purchasers of british goods, to produce for themselves and develop their own manufacturing industries. E.G. india and cotton
- WAR DISTORTS INTERNATIONAL ECONOMY-WEAKENS ALREADY DECLINING STAPLE INDUSTRIES
- British Staple Industries in long term decline.
- WAR DISTORTS INTERNATIONAL ECONOMY-WEAKENS ALREADY DECLINING STAPLE INDUSTRIES
- British Staple Industries in long term decline.
- TRADE UNIONS AND INDUSTRIAL RELATIONS
- 1914-1918 Trade Union Membership rose from 4m to 6m
- POLITICAL
- 1918-Representation of the people Act
- ECONOMIC
Comments
No comments have yet been made