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The Interwar Years

In: The British Insurance Industry Since 1900

Author

Listed:
  • Robert L. Carter

    (University of Nottingham)

  • Peter Falush

Abstract

Britain and her allies prevailed over their enemies during World War I and managed to preserve the Empire. But the massive price paid for victory in terms of 780,000 lives lost and a mountain of national indebtedness created, described in the previous chapter, transformed the country. It became vastly different in its economic, political and social structure, compared with its pre-war state. It lost significant trade volumes to its dominions and the war also accelerated the process which was already giving manual workers an increasing share in the national income. The historian A.J.P. Taylor pointed out that a rich man paid 8% of his income in tax before the war, one third of it after. (Taylor, 1965, p. 176)

Suggested Citation

  • Robert L. Carter & Peter Falush, 2009. "The Interwar Years," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The British Insurance Industry Since 1900, chapter 3, pages 23-30, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-23952-4_3
    DOI: 10.1057/9780230239524_3
    as

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