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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 20-year great depression beginning in 1918.
The term "The Great Depression" is most frequently attributed to British economist Lionel Robbins, whose 1934 book The Great Depression is credited with formalizing the phrase, [230] though Hoover is widely credited with popularizing the term, [230] [231] informally referring to the downturn as a depression, with such uses as "Economic ...
The Depression had hit the UK in 1931, and had led to a run on the Bank of England in which foreign investors were withdrawing £2.5 million a day in gold. As most of the Labour party was opposed to the Keynesian ideas proposed by Oswald Mosley , the government was looking for some way to cut public sector spending.
The National Government of August–October 1931, also known as the First National Government, was the first of a series of national governments formed during the Great Depression in the United Kingdom.
Hunger marches to London had previously taken place in 1922–23, 1929 [2] and 1930, [3] and 1927 had seen a South Wales miners' march. [4] Due to the Great Depression and mass unemployment, throughout 1932 there was a profound atmosphere of unrest across Britain with "high tension across the country", "running battles between police and demonstrators" and "violent clashes ... between the ...
Sentiments for peace were so strong that the nation supported appeasement of Hitler's Germany in the late 1930s, until the Nazi invasion of Poland in 1939 started the Second World War. In the Second World War, the Soviet Union and the US joined the UK as the main Allied powers.
Pages in category "Great Depression in the United Kingdom" The following 8 pages are in this category, out of 8 total. This list may not reflect recent changes .
In the first two decades of the 20th century, there was relatively little unemployment in the UK, but it could still become a severe problem in various areas after disruptive changes to the local economy. Hunger marches became much more prominent in the 1920s and 1930s during the Great Depression in the United Kingdom. [1]