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 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