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 elaborate arrangements required. For example, Queen Elizabeth II was crowned on 2 June 1953, having ascended the throne on 6 February 1952; the date of her coronation was announced almost a year in advance, and preparations inside the abbey took five months. The ceremony is performed by the Archbishop of Canterbury, the most senior cleric in the Church of England, of which the monarch is supreme governor. Other clergy and members of the nobility also have roles; most participants in the ceremony are required to wear ceremonial uniforms or robes and coronets. Many other government officials and guests attend, including