Season synopsis
Contains spoilers for this season and earlier seasons.
The 1929 Wall Street crash wipes out much of the Shelby fortune, including the money Michael was managing in America. He returns home with Gina and proposes a new direction for the company, but Tommy reads the proposal as a bid to take control. As the family argues over Michael’s place and the future of their business, Tommy enters the orbit of Oswald Mosley, a rising fascist politician. He acts as Mosley’s ally while secretly planning to kill him, with Churchill watching the political danger from a distance.
Tommy’s position grows harder to hold as the Billy Boys attack the Shelbys and kill Aberama Gold’s son, Bonnie. Arthur’s marriage to Linda breaks down; when she comes to shoot him, Polly shoots her first. Linda survives and leaves. Polly resigns from the company, while Michael and Gina keep pressing their plan to reorganise it. Tommy recruits Aberama and Barney, a former soldier and sniper, for the Mosley plot. Alfie Solomons, whom Tommy shot in Margate at the end of the last season, is revealed to have survived and is living there; Tommy brings him into the scheme.
At Mosley’s Birmingham rally, the assassination plan collapses. Finn has let the plot slip to Billy Grade, who reaches for a telephone, but Tommy cannot work out who passed the information on. Barney is killed before he can shoot, Aberama is stabbed, and Arthur survives an attack. Mosley carries on with his speech. The next morning, haunted by Grace and overwhelmed by the defeat, Tommy walks into a field, screams and presses a gun to his head. The season ends before the shot, leaving his fate unresolved.