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
Coronation of the British monarch forms of coronet, which they don during the service. A male heir-apparent's coronet displays four crosses-pattée alternating with four fleurs-de-lis, surmounted by an arch. The same style, without the arch, is used by other children and siblings of the monarch. The coronets of children of the heir-apparent display four fleurs-de-lis, two crosses-pattée and two strawberry leaves. A fourth style, including four crosses-pattée and four strawberry leaves, is used for the children of the sons and brothers of sovereigns. The aforementioned coronets are borne in place of those to which they might otherwise be entitled as peers or peeresses. All peers