The Great Depression began in 1929, although some economists will argue that it began in 1918 as Britain was already in crisis and trying to recover after the war when Wall Street crashed in ’29. The depression lasted until 1934.

Industrial Britain was devastated while demand for industry collapsed and the world closed it borders to British export as the value of the Pound was at USD4.86.  The value of exports had declined by 50%.

Unemployment went from 1mil to 2.5mil in 1930, while in some Scottish towns 70% of people where unemployed.