History of the British national debt both government borrowing and the national debt have risen dramatically, reaching around 70% of GDP by the end of 2012. The origins of the British national debt can be found during the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt. This syndicate soon evolved into the Bank of England, eventually financing the wars of the Duke of Marlborough and later Imperial conquests. The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, to the plan which had been proposed by
Edward VI of England Thirty-nine Articles of 1563 were largely based on Cranmer's Forty-two Articles. The theological developments of Edward's reign provided a vital source of reference for Elizabeth's religious policies, though the internationalism of the Edwardian Reformation was never revived. Edward VI of England Edward VI (12 October 1537 – 6 July 1553) was King of England and Ireland from 28 January 1547 until his death. He was crowned on 20 February at the age of nine. Edward was the son of Henry VIII and Jane Seymour, and England's first monarch to be raised as a Protestant. During his reign, the realm was