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
The Old Bank of England have held the Crown Jewels for a period as well. The pub is close to where the fictional Sweeney Todd is said to have plied his trade. The pub is currently operated by Fuller's Brewery. The Old Bank of England The Old Bank of England is a public house at 194 Fleet Street, where the City of London meets the City of Westminster. It was constructed on a corner site in 1886 by Sir Arthur Blomfield in a grand Italianate style, the interior having three large chandeliers with a detailed plaster ceiling. It is a Grade II listed building. The