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 Coronation of the British monarch The coronation of the British monarch is a ceremony (specifically, initiation rite) in which the monarch of the United Kingdom is formally invested with regalia and crowned at Westminster Abbey. It corresponds to the coronations that formerly took place in other European monarchies, all of which have abandoned coronations in favour of inauguration or enthronement ceremonies. The coronation usually takes place several months after the death of the previous monarch, as it is considered a joyous occasion that would be inappropriate while mourning continues. This interval also gives the planners enough time to complete the