The impact of fiscal policy on economic activity is still a matter of great debate. And, ever since Keynes first commented on it, interwar Britain, 1918- 1939, has remained a particularly contentious case | not least because of its high debt environment and turbulent business cycle. This debate...

1. Introduction -- 2. Business, Monetary and Credit Cycles in Theory -- 3. Statistical and Econometric Analysis of the Cycle -- 4. GDP data for Analysing Business Cycles -- 5. Metrics and Turning Points of Cycles 1660-2018 -- 6. A Narrative History of UK Business Cycles -- 7. Conclusions