U.K to repay its last debts.

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Britain will finally have repaid its last World War II loans by the end of today, to the United States and Canada an amount of huge importance since it is going to pay the double of what it borrowed in 1945 and 1946. The United Kingdom treasury will pay the last of 50 instalments since 1950, which value $83.25 million to the United States and $22.7 million for Canada. It would be hard to appreciate the huge costs and economic toll wining WWII had inflicted on the once proud and prosperous British Empire. At that time British social and economic balance were precarious.

 

In the early days of war, Britain had spent huge sums under the US cash-and-carry scheme, with down payments for its purchases. By 1941, the British economy was in a precarious state and lend-lease was introduced to ease its finances. Britain also traded some of its territories for equipment. If it seems funny Britain still have debts of Second World War 60 years later, it would be funnier to notice Great Britain should repay its first world war debts to the U.S which amount is today £40 billion.

 The strangest in that situation is that Great Britain still invest colossal sums on war and military activities and it does with Iraq today. who knows when U.K would repay its debts may be in 2060?!

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