[PDF] Political Economy and Peels Repeal of the Corn Laws

Was the repeal of the Corn Laws a Peelite policy?

• However, the success of his fiscal strategy of tariff liberalisation was clear by 1845 so that Repeal of the Corn Laws lay fully in the logic of Peelite policy.

What was the impact of the repeal of the Corn Laws?

• The repeal of the Corn Laws in 1 846 witnessed British launching of an era of free trade that lasted until the revival of economic nationalism in the 1 87os. Due largely to American policy initiatives, international trade expanded even more rapidly than domestic economies during the 1 9 50s and 196os.

What were the Corn Laws?

• The most infamous Corn Laws were the protectionist measures brought in by the British government in 1815, which restricted the amount of foreign grain that could be imported into the country.

Why did the Tory government pass the Corn Laws?

• However, importing grain from abroad was not in the interests of British landowners – which included many members of parliament – so the Tory government passed the Corn Laws. Economists at the time believed that relying on cheaper foreign corn would lower labourers’ wages.