16th of September 2015
Social Studies

please explain the impact of the first world war on britains economy.

Sunil Kumar Ayyappan Santhamma - CBSE - Class VI

Wednesday, September 16, 2015 at 18:21:PM


Dear Sunil,

Unlike USA, Britain actually suffered the heavy physical losses of the First World War. It led to a gradual increase in taxation of income in Britain. There was a great disequilibrium between the demand and supply in the industrial sector. Rationing became a norm of British economy during this period. The aftermath of the First World War also saw immense labour unrest in Britain. This was especially so in the northern parts, among the coal miners. It also led to minor yet definite redistribution of income in Britain.

Wednesday, September 16, 2015 at 18:50:PM