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The UK suffered its deepest recession in 300 years. [46] Government spending jumped from 39.1% of GDP to 51.9%, widening the deficit to a level not seen even during the 2008 financial crisis, and reversing austerity era efforts to balance national finances. [47]
[1] [2] At the start of the Second World War in 1939, the United Kingdom was importing 20 million long tons of food per year, including about 70% of its cheese and sugar, almost 80% of fruit and about 70% of cereals and fats. The UK also imported more than half of its meat and relied on imported feed to support its domestic meat production.
The end of Lend-Lease thus came as a great economic shock. Britain needed to retain some of this equipment in the immediate post war period. As a result, the Anglo-American loan came about. Lend-lease items retained were sold to Britain at the knockdown price of about 10 cents on the dollar, giving an initial value of £1.075 billion. [3]
Leftovers are surplus foods remaining unconsumed at the end of a meal, which may be put in containers with the intention of eating later. Inedible remains like bones are considered waste, not leftovers. Depending on the situation, the amount of food, and the type of food, leftovers may be saved or thrown away.
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
When the Lights Went Out: Britain in the 1970s (2009) 576pp excerpt and textsearch; Bernstein, G. (2004). The Myth of Decline: The Rise of Britain Since 1945. London: Harvill Press. ISBN 978-1-84413-102-0. Bew, John. Clement Attlee: The Man Who Made Modern Britain (2017). Butler, David (1989). British General Elections since 1945. London ...
The Great Depression of 1929–32 broke out at a time when the United Kingdom was still far from having recovered from the effects of the First World War. Economist Lee Ohanian showed that economic output fell by 25% between 1918 and 1921 and did not recover until the end of the Great Depression, [3] arguing that the United Kingdom suffered a twenty-year great depression beginning in 1918.
11–13 April: A pro-EU leaflet—in which the government warns that Brexit will increase the cost of living and lead to a decade or more of uncertainty [73] [74] —is sent to households across England. [72] 13 April: The Electoral Commission designates Vote Leave as the referendum's official campaign in favour of leaving the EU, while Britain ...