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Economic Policy (Overcoming overproduction (1932 HOP Marketing Board…
Economic Policy
Overcoming overproduction
1930 Coal Mining Act
Nationalisation after end of subsidies in 1926
Restrict production, cut competition
National regulation of sale and production
Collieries reported to central council
Coal Miners Reorganisation Commission
Cut of working hours
1926 Mine Industry Act
Less coal on the market
1932 HOP Marketing Board
Flailing industry fell by 70% in 1934
Government feared a more efficient industry would mean fewer workers
Did not deal with unemployment or failing trade
Mosley Memorandum
Signed by 15 Labour MPs
Higher tariffs to protect British industries from international finance
State nationalisation of main industries
Programme of public works to solve unemployment
Rejected by cabinet
Mosley resigned
Supported by the Liberals
Public Works
1929 Loan and Colonial Loan Act
42 million homes