With the world plunged into the Great Depression following the Wall Street Crash of November 1929, MacDonald was forced to cut government spending buty by August 1931 his Labour MPs were unwilling to support any further cuts.

1929 年 11 月华尔街崩盘后，世界陷入大萧条，麦克唐纳被迫削减政府开支，但到 1931 年 8 月，他的工党议员不愿支持任何进一步的削减。