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1945 election

July first election for 10 years - 393 labour victory, 209 cons, 12 Liberals

Why Labour Won

What Labour did right What Conservatives did wrong
Labour had been getting popular since People remembered unemployment of
the mid 30s. 30s (when cons in power)
Trade Unions got stronger in…

Page 2

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1945 US loaned
$3,700m over 50
years but we had to
pay the interest in
dollars. Which lead
to the Convertibility
Crisis where there
was not enough $
physically in Bank of
England.
1948 US lent
`Marshall Aid' even
more generous
interest rates-
`saved' British
economy.


3. GB not exporting…

Page 3

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1. Some growth e.g 1. Compensation
electricity. cost £2700m
2. Cons kept most of it.
2. Some nat Ind didn't
make a profit so had to
be subsidised from other
parts of gov't budget.
Devaluation 1949 Due to brief US recession, Us
demand for GB exports and
therefore £ =…

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