How was a managed economy created between 1939-51?

Managed economy (2)

An economy which is heavily regulated and planned by the government

There is lots of state intervention

How did the Government try and deal with the Great Depression? (4)

They followed policies of Fiscal Conservatism especially in the 1930s

Didn’t sepnd too much on the economy or get involved

Cut unemployment benefits

Cut public sector pay

What happened during WWII? (2)

Government created a managed economy

Invested more inbuilding the economy

What did the government create during WWII? (2)

Ministry of Aircraft production

Ministry of Food

How did military expenditures change? (4)

1939 - 15% of British NI

1945 - 51% of British NI

1940 - 15,000 aircrafts produced

1944 - 47,000 aircrafts produced

Nationalisation

Moving industries from private ownership to state control

Balance of Payment Deficit

When a country is importing more than it exports

Austerity

The period of ongoing rationing and shortages after WWII