History of the British national debt History of the British national debt The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt, which evolved into the Bank of England. In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of £1 billion (that was more than 200% of GDP). At the beginning of the 20th century the national debt had been gradually reduced to around 30 percent of GDP. However, during World War I the British
Coronation of the British monarch A monarch, however, accedes to the throne the moment their predecessor dies, not when they are crowned. i.e. "The King is dead. Long live the King." The Anglo-Saxon monarchs used various locations for their coronations, including Bath, Kingston upon Thames, London, and Winchester. The last Anglo-Saxon monarch, Harold II, was crowned at Westminster Abbey in 1066; the location was preserved for all future coronations. When London was under the control of rebels, Henry III was crowned at Gloucester in 1216; he later chose to have a second coronation at Westminster in 1220. Two hundred years later, Henry VI also had