Trade Facilities Act 1926
The Trade Facilities Acts were a series of Act of Parliament, 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 £ billion in ) 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. Background Following the end of the First World War, Britain saw a short period of economic boom, which then turned into Depression of 1920-21, a major recession. The costs of materials and labo ...
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Act Of Parliament
Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of parliament begin as a Bill (law), bill, which the legislature votes on. Depending on the structure of government, this text may then be subject to assent or approval from the Executive (government), executive branch. Bills A draft act of parliament is known as a Bill (proposed law), bill. In other words, a bill is a proposed law that needs to be discussed in the parliament before it can become a law. In territories with a Westminster system, most bills that have any possibility of becoming law are introduced into parliament by the government. This will usually happen following the publication of a "white paper", setting out the issues and the way in which the proposed new law is intended to deal with them. A bill may also be introduced in ...
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