Explain the Impact of First World War on the British Economy.

The First World War which took place mainly in Europe from 1914 to 1918 had ; a profound impact on the economy of Britain.

The large scale deaths and injuries in the First World War reduced the working age people in Europe, declined the family income and the women had to undertake jobs to run the family.

During the First World War the US became the international creditor from being international debtor because, to finance the war, Britain borrowed huge sums of money from the US banks and US public.

The debt mounted and thus Britain was not able to produce goods for exports.

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