1931 Crisis

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1931 Crisis

  • Unemployment 1.2m in 1929 --> 2.6m in 1931
  • Long term structural decline in staple industries
  • 1929 Wall Street Crash
  • 1931 financial crisis - dramatic withdrawal of funds from Bank of England calling into question the position of the pound
  • May Committee estimated a budget deficit of £120m. Said cuts…

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