Great Depression in the United Kingdom/Timelines: Difference between revisions
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: Post-war recession [http://www.econ.berkeley.edu/~eichengr/research/floudjohnsonchaptersep16-03.pdf]. | : Post-war recession [http://www.econ.berkeley.edu/~eichengr/research/floudjohnsonchaptersep16-03.pdf]. | ||
: Montagu Norman becomes Governor of the Bank of England | : Montagu Norman becomes Governor of the Bank of England | ||
: Bank of England raises its discount rate to 7% | |||
1922 | 1922 | ||
: Economic and Monetary Conference recommends return to the gold standard [http://www.cepr.org/meets/wkcn/1/1671/papers/The_Genoa_Conference_finale.pdf]. | : Economic and Monetary Conference recommends return to the gold standard [http://www.cepr.org/meets/wkcn/1/1671/papers/The_Genoa_Conference_finale.pdf]. | ||
Revision as of 06:27, 2 March 2009
1919
- November
- Coalition Government Prime Minister David Lloyd George
- Bank of England raises discount rate from 5% to 6%
1920
- Post-war recession [1].
- Montagu Norman becomes Governor of the Bank of England
- Bank of England raises its discount rate to 7%
1922
- Economic and Monetary Conference recommends return to the gold standard [2].
- October
- Conservative Government. Bonar Law Prime Minister
1923
- May
- Conservative Government. Prime Minister and Chancellor of the Exchequer Ramsay McDonald.
1924
- (January) Labour Government. Prime Minister Ramsay McDonald. Chancellor of the Exchequer Phillip Snowden.
- (November} Conservative Government. Prime Minister Stanley Baldwin. Chancellor of the Exchequer Winston Churchill.
1925
- Britain rejoins the gold standard.
1929
- June
- General Election: Labour 288 seats, Conservative 206 seats, Liberal 59 seats.
- Minority Labour Government. Prime Minister Ramsay McDonald. Chancellor of the Exchequer Phillip Snowden
- Bank of England raises the bank rate from 4.5% to 5.5%
- October
- Wall Street crash.
1930
- January
- Economic Advisory Council - holds 13 meetings without reaching agreement.
- May
- Mosely Memorandum - rejected.
1931
- May
- Collapse of Kreditanstalt bank in Austria sparks a run on banks
- July
- May Report - recommends a £96m cut in public spending y by public sector salary reductions and in Unemployment Benefit.
- Run on the pound and heavy withdrawals from the Bank of England's gold reserves[3]..
- August
- Cabinet disagreement over Phillip Snowden's proposed 10% cut in unemployment benefit.
- Labour Government Resigns.
- National Government. Prime Minister Ramsay McDonald. Chancellor of the Exchequer Phillip Snowden.
- September
- Cabinet agrees 10% cut in unemployment benefit.
- Britain leaves the gold standard
- November
- "National " Government Prime Minister Ramsay McDonald, Chancellor Neville Chamberlin
1932
- General tariff of 10% on imports
1933
- World Economic Conference: US vetoes international currency stabilisation [4].
1935
- June
- National Government Prime Minister. Stanley Baldwin, Chancellor of the Exchequer Neville Chamberlin.