Economic Problems In The 1930's

Economic Problems In The 1930's

1. Trade.

   • Staple industries in decline and could no longer trade with US.
   • Wall Street Crash meant US put up trade barriers and recalled foreign loans.
   • Exports fell by half in value in 1932 and did not fully recover until 1937.

2. Internal

   • Cotton output fell to less than half than in 1913.
   • Unemployment 3 million, 50% state workers out of jobs
   • Shipbuilding launched a million tonnes of new shipping each year during 1920s but less than 150k tonnes in 1933.
   • Merthyr Tydfill in South Wales 62% male unemployment.

3. Political

   • May Report proposed cuts in public welfare.
   • Unemployment benefit cut by 10%.