The experimental armoured formations of the British army were mostly equipped with the Vickers Medium Tank Mk I and Medium Mk II, which were judged obsolete by the 1930s; most of the vehicles were at the end of their mechanical life. It was impractical to build more because their road speed of only was too slow for manoeuvre warfare and their armament of a 3-pounder gun lacked the power to penetrate newer foreign tanks. By 1931, experience with the Experimental Mechanized Force led to the report of the Kirke Committee and specifications for three types of tank, a medium tank with a small-calibre anti-tank gun and a machine-gun, a light tank armed with machine-guns for reconnaissance and to co-operate with medium tanks by engaging anti-tank guns. A close support tank armed with a gun firing high explosive and smoke shells to give covering fire for tank attacks was also specified. The Wall Street Crash of 1929 and the Great Depression led to big reductions in the funds made available for the army. Money spent on tracked vehicles fell from £357,000 in 1931–32 to £301,000 in the year 1932–33 and exceeded the 1931 figure only in 1934–35.