Leicester was formally recognised as a city in 1919 and a cathedral city on the consecration of St Martin's in 1927. It obtained its current boundaries in 1935, with the annexation of the remainder of Evington, Humberstone, Beaumont Leys and part of Braunstone. In 1900 an important new transport link, the Great Central Railway provided a new goods and passenger route to London.
By the time of Queen Victoria's death in 1901 the rapid population growth of the previous decades had already began to slow and the Great War of 1914–18 and its aftermath had a marked social and economic impact. Leicester's diversified economic base and lack of dependence on primary industries meant that it was much better placed than many other cities to weather the severe economic challenges of the 1920s and 1930s. The Bureau of Statistics of the newly formed League of Nations identified Leicester in 1936 as the second richest city in Europe and it became an attractive destination for refugees fleeing persecution and political turmoil in continental Europe. Firms such as Corah and Liberty Shoes used their reputation for producing high-quality products to expand their businesses.
These years witnessed the growth in the city of trade unionism and particularly the co-operative movement. The Co-op became an important employer and landowner and when Leicester played host to the Jarrow March on its way to London in 1936, the Co-op provided the marchers with a change of boots. In 1938 Leicester was given the first A.D.C.C (Air Defence Cadet Corp) or known as today The Air Training Corps. The Squadron Number is 1F.
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