MacDonald 1929-1931

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  • MacDonald: 1929-1931
    • The Wall St. Crash/The Great Depression
      • 3 million people out of work. 22% insured workforce
        • Jarrow 60% unemployed
      • six/7 million people lived in poverty
      • Payments deficit: £100m
      • Political Effect:
        • Treasury Orthodoxy vs Keynesian Theory. Disagreementover management of economy. SPLIT THE PARTY
        • unemployment benefit/insurance extended relief to all workers
    • Political/S/E Achievements:
      • Housing Act 1930
        • More houses; more jobs
      • London Transport Bill 1931
        • Efficient underground and bus service. Provided jobs. Long Term success
      • Coal Mines Act
        • fixed minimum wages and improved working conditions
    • Policies
      • Expenditure public works up £140m Sep 1930. (£70m Feb)
      • 20% cut unemployment benefit
        • Arguments over cuts - divided. MacDonald resigned as a result
          • Had become increasingly conservative. Crumbled due to:
        • Peace: No government divided this way could survive
    • Had become increasingly conservative. Crumbled due to:


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