First job = pass the Economic Act to cut spending in order to meet the terms of the foreign financers to prop up pound and keep Britain ON GOLD. Act passed only by 61 votes, with 250 labour MPs voting against (reveals how crucial it truly was for RMD to form NG)
There was a strong case for reducing dole (10% reduction in unemployment benefit key part of Econ Act) seen as hasn't changed since 1921 and was worth more in 1931 due to falling prices
2nd run on pound in Sept 11th 1931 due to the Invergordon Mutiny (british navy seamen mutinied angry at cuts to wages, investors and people lost nerve so withdrew money from British banks)
The Mutiny forced Britain off gold, EMERGENCY GOV CONTINUE but ONLY WITH MANDATE FROM VOTERS aka the 1931 October Election
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1931 Election Results
Cons win 470 seats alone
National Labour won 35 seats
National Liberals (Simonites) 35 sets
Total National Gov = 540 seats, huge majority, and had a popular majority >50% of actual votes
-Liberal Samuelites got 33 seats
-Opposition Liberal LG rebels got 4 seats
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Impact on main three parties?
Conservatives
Similar to having LG as PM, took LG 'prisoner' and could use as a scapegoat if things went wrong
Managed to implement Tariffs in 1931
Neville Chamberlain chancellor in 1931, dominated Gov in many respects
Tories dominant party in the NG, huge maj, could've ruled alone
Allowed SB to sideline more radical members of party especially WC
Labour
Labour disowned RMD as 'Lucifer of the Left' only a small number of Labour MP backed the NG, most remained separate with Henderson as their leader
Labour did not play a role in Gov until the 1940 Wartime Coalition
Party had two leaders in 1930s, ineffectual George Lansbury (Hyde park lido guy) 1932-35 and Clement Attlee after 1935
National Labour w/ RMD 'rump of party'
Party did recover in the long run, won the 1945 election
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Impact on liberals?
Worse-affected, formed three separate tribes
Now indistinguishable from Cons/Lads- lost any sense of party identity
No longer held balance of power like they did when they were united as oone party in 1924 or 1929-31
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