Legacy of WW1

small summary of immediate effects ww1 had on Britain

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  • Created by: ysclayton
  • Created on: 08-04-14 14:43
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  • 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
          • WAR DISTORTS INTERNATIONAL ECONOMY-WEAKENS ALREADY DECLINING STAPLE INDUSTRIES
    • TRADE UNIONS AND INDUSTRIAL RELATIONS
      • 1914-1918 Trade Union Membership rose from 4m to 6m
    • POLITICAL
      • 1918-Representation of the people Act

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