The Great Depression (dec 31, 1929 – jan 1, 1933)

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While seemingly not as severe as in countries where a boom occurred, this was still Britain’s largest depression in the 20th century. Britain’s world trade halved, and the output of heavy industry dropped by a third. Profits dropped heavily in all areas and the peak unemployed count registered more than 3.5 million and as much as 70% in some areas. During this period, the Labour Party was damaged badly.

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