BRITAIN PAYS BACK FINAL WW2 LOANS

[Backpacker1uk]

LONDON (Reuters) - The government said it will on Friday pay back the final instalments of loans taken out at the end of World War Two to finance vital reconstruction.

The payments of $83.25 million (42.4 million pounds) to the United States and $22.7 million to Canada will close the final chapter of the war and mean that in total the country has paid close to twice what it borrowed in 1945 and 1946.

And there was me worrying about my plastic!!!

 

[onions]

So how long will we be paying for the present day altercations?

Keep Striving

 

[Greenie]

The heap of rubble they call the Scottish Parliament cost 400 million

so I wonder what the delay was paying back the US and Canada.

Maybe it wuz coming out of the Defence budget :lol: :lol:

 

[dubaipusser]

When is our government going to realise that the only way for us to increase defence spending is to declare war on the USA, let them beat us (but we can't make it look too easy for them) and then get them to spend billions on regeneration?

 

[ronalder]

When is our government going to realise that the only way for us to increase defence spending is to declare war on the USA, let them beat us (but we can't make it look too easy for them) and then get them to spend billions on regeneration?

See the "Mouse that Roared" . Do you think that we could live with the consequences if actual events followed the film script? Gawn 'elp us!

 

[dubaipusser]

It never really happen like they show in the movies - especially ones where the US tries to 'spin history' so what's the risk?

 

[Bergen]

The heap of rubble they call the Scottish Parliament cost 400 million

so I wonder what the delay was paying back the US and Canada.

Maybe it wuz coming out of the Defence budget :lol: :lol:

It was a fixed 2% interest loan so it made sense to run it to term.

What not many people are aware of is that the loans OWED to Britain after WWI were suspended in 1934 because of the Great Depression and the moratorium has never been lifted and the debts remain unpaid to this day. Adjusted for inflation and GDP they are substantial amounts and are estimated in the billions of dollar range.

Another useless piece of information is that Britain still maintains Bonds for the Napoleonic Wars. The interest rates on them are so low that it is cheaper to maintain them than to pay them off.......................which makes me wonder how many generations of Seppos are going to be shackled to the Iraq war debt which at the moment stands at $550 billion.

As Shrub is discovering......you spend a $billion here and a $billion there and pretty soon you are talking some serious money......lol.

RM