https://www.youtube.com/watch?v=_muwtwIMb3A
Printable View
Britain's outstanding First World War debt has been repaid after the Chancellor redeemed £1.9 billion from an outstanding bond.
The 3.5% War Loan was the most widely held of any UK Government bond with more than 120,000 holders, or 60% of all holdings of government gilts.
About 97,000 of these investors held less than £1,000 and almost 38,000 holders owned less than £100, according to the Treasury.
The 3.5% War Loan was issued in 1932 by the then-chancellor Neville Chamberlain in exchange for the 5% War Loan 1929-47, which was issued in 1917 as part of the effort to raise money to pay for the First World War.
The Debt Management Office estimates that Britain has paid some £5.5 billion in total interest on the 5% and 3.5% war loans since 1917.
The move comes as the Government looks to remove all other undated gilts in its portfolio, some of which have origins going back to the 18th century.
From the comment section: We are still in debt with a loan from the first world war and we have only just finished paying our 'Special friends' the U.S. (who have screwed us for every last penny ) for the second world war, the people responsible for starting these two wars have been enjoying a brilliant economic recovery since the second world war and have had the most profitable economy in Europe for many years, they now control the finances of Europe through the EU, also much to their economic advantage........heres an idea ...give the bloody Germans a whacking great bill for the whole lot and invest it in this country before we do finally go down the pan...makes complete sense to me .
How does that relate to the topic?