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
Dukedoms of the British Isles by reign Baron Killyleagh. This title was created by The Queen for her royal grandson, Prince William, on the occasion of his marriage on 29 April 2011. The subsidiary titles are Earl of Strathearn and Baron Carrickfergus. This title was created by The Queen for her royal grandson, Prince Harry, on the occasion of his marriage on 19 May 2018. The subsidiary titles are Earl of Dumbarton and Baron Kilkeel. Dukedoms of the British Isles by reign This page lists extant dukedoms in the Peerages of the British Isles, listed by the monarch who created them—see also List of dukedoms in the