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About: Trade Facilities Act     Goto   Sponge   NotDistinct   Permalink

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The Trade Facilities Acts were a series of Acts of the Parliament of the United Kingdom that were designed to alleviate the problem of large scale unemployment in the aftermath of the First World War. Acts were passed in 1921, 1922, 1924, 1925 and 1926 by four successive governments. The acts enabled companies to borrow money, with the capital and interest guaranteed by the government, for projects which would create employment. By the end of the scheme in March 1927, almost £75 million (equivalent to £4.6 billion in 2021) had been guaranteed to a range of industries. Whether the acts had a significant effect on unemployment has been debated, but one lasting legacy was the funding of the extension and refurbishment of what became the London Underground Northern line.