26 January - Winston Churchill resigns from Stanley Baldwin's shadow cabinet after disagreeing with the policy of conciliation with Indian nationalism
29 January - For the fourth time in nine years, there is a fatal underground explosion at Haig Pit, Whitehaven, in the Cumberland Coalfield, killing 27.
19 March - Westminster St George's by-election results in the victory of the Conservative candidate Duff Cooper. The by-election has been treated virtually as a referendum on the leadership of the Conservative leader Stanley Baldwin, and Duff Cooper's victory ends the campaign by the press barons Lord Beaverbrook and Viscount Rothermere to oust Baldwin.
June - Publication of Report of the Committee on Finance and Industry (the 'Macmillan Committee') on the relationship between the banking and financial system and British trade and industry, largely written by John Maynard Keynes.
9 June - Submarine HMS Poseidon sinks after collision with a Chinese freighter off Weihai, China. Twenty lives are lost but a few submariners become the first to surface using the Davis Submerged Escape Apparatus.
Charlie Parker equals J. T. Hearne's record for the earliest date to reach 100 wickets.
31 July - The May Report of the Committee on National Expenditure recommends extensive cuts in government spending. This produces a political crisis as many members of the Labour Party government object to the proposals.
11 August - Run on the pound.
24 August - Labour Government of Ramsay MacDonald resigns and is replaced by a National Government of people drawn from all parties also under MacDonald, as suggested by King George V earlier in the year.
6 September - Chancellor of the Exchequer Philip Snowden announces salary cuts for all government employees and reductions to unemployment benefit.
7 September - Second Round Table Conference on the constitutional future of India opens in London. Mahatma Gandhi represents the Indian National Congress.
13 September - Schneider Trophyseaplane race flown at Calshot Spit. For the third successive time the British team (sponsored by Lady Houston) wins with Flt. Lt. John Boothman flying the course in Supermarine S.6B serial S1595 designed by R. J. Mitchell with Rolls-Royce R engines at a world record speed of 340.09 mph (547.31 km/h). On 29 September Flt Lt. George Stainforth in S.6B serial S1596 breaks the 400 mph air speed record barrier at 407.5 mph (655.67 km/h).
20 September - Pound sterling comes off the gold standard.
Autumn - Means test introduced for those in receipt of unemployment insurance for more than six months.
27 October - General election results in victory for the National Government in the country's greatest ever electoral landslide. Ramsay MacDonald remains Prime Minister. This election is held on a Tuesday: all subsequent ones will be on Thursdays.
21 November - The infamous Red-and-White Party, given by Arthur Jeffress in Maud Allan’s Regent’s Park town house in London, marks the end of the "Bright young things" subculture in Britain.
12 December - Great Depression: Work on construction of "Hull Number 534", the future ocean liner RMS Queen Mary, at John Brown & Company's shipyard on Clydebank is suspended for more than two years.