Churchill's work as Chancellor of the Exchequer

Created by: Heather
Created on: 21-09-14 13:10

What reasons could we say why Baldwin appointed Churchill as chancellor?

-Both went to Harrow school, -Easier to control Churchill-keep him busy, -Neville Chamberlain didnt want the job-second best,

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Why was Churchill pleased with becoming Chancellor?

As it could lead to him becoming Prime Minister and his father had had the role and it was a powerufl position,

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WHy was Churchill not the best suited man for the job?

He had no real financial knowledge,

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What is the gold standard?

The fixed price at which gold is traded in the major world currencies,

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WHy would Britian want to return to the Gold Standard?

It was prestigious as only rich and stable contries could afford it and it encouraged trade and therefore stability and employment,

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When had Britian left the gold standard?

In 1919 after World War ONe,

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Was the return of the gold standard popualr?

Yes and it was supported by Labour, Conservatives and the Bank of England,

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When did Churchill return the Gold Standard and to what level?

In 1925 at pre-war level,

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What was wrong with the Gold Standard at pre-war level?

THe world economy had changed dramatically since the war so it was too hugh and over-valued the pound,

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Who criticised the GOld Standard and what was the name of his book? Who did he blame it on?

Keynes the economist wrote 'Thr Economice Conseuences of Mr Churchill' and blamed Churchill's advisors,

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What did the GOld Standard cause for trade?

More expensive exports and cheaper imports and people in Britian will buy the cheapest products so that would be foreign foods so less people buy British products, means less products made so less employment needed so unemployment etc,

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What other positive work did Churchill do as Chancellor?

-Extended National Insurance, -Cut income tax, -Supported old age and widows pension, -made ten year rule permanent in 1928(no war in 10 years) and refused to build a naval base in Singapore-no war with Japan 'in our lifetime'

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What did the Giold Standard cause in 1926?

The General Strike

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Other cards in this set

Card 2

Front

Why was Churchill pleased with becoming Chancellor?

Back

As it could lead to him becoming Prime Minister and his father had had the role and it was a powerufl position,

Card 3

Front

WHy was Churchill not the best suited man for the job?

Back

Card 4

Front

What is the gold standard?

Back

Card 5

Front

WHy would Britian want to return to the Gold Standard?

Back

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Churchill's work as Chancellor of the Exchequer