Funding
Despite Prime Minister James Ramsay MacDonald's pledge of government support for the next British race entrant immediately after the 1929 victory, official funding was withdrawn less than two months later following the Wall Street Crash, with the official excuse that the previous two contests had collected sufficient data on high speed flight, so that further expenditure of public money was unwarranted. A committee formed by the Royal Aero Club, who were responsible for organising the 1931 race, which included representatives from the aircraft and aero engine industries, was formed to discuss the feasibility of a privately funded entry but concluded that not only would this be beyond their financial reach but that the lack of the highly-skilled RAF pilots of the High-Speed Flight would pose a severe problem. This caused enormous public disappointment: having won two successive races a victory in a third race would secure the trophy outright.
As ever active in aviation affairs, Lord Rothermere's Daily Mail group of newspapers launched a public appeal for money and several thousand pounds were raised, and after Lady Houston publicly pledged £100,000 the Government changed its position and announced its support for an entry in January 1931, leaving less than nine months to prepare any race entrant. The RAF High Speed Flight was reformed, and Mitchell and Rolls-Royce set to work.
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