History of the British national debt History of the British national debt The history of the British national debt can be traced back to the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt, which evolved into the Bank of England. In 1815, at the end of the Napoleonic Wars, British government debt reached a peak of £1 billion (that was more than 200% of GDP). At the beginning of the 20th century the national debt had been gradually reduced to around 30 percent of GDP. However, during World War I the British
Coronation of the British monarch banquet held in Westminster Hall in the Palace of Westminster (which is also the home to the Houses of Parliament). The King or Queen's Champion (the office being held by the Dymoke family in connection with the Manor of Scrivelsby) would ride into the hall on horseback, wearing a knight's armour, with the Lord High Constable riding to his right and the Earl Marshal riding to his left. A herald would then make a proclamation of the readiness of the champion to fight anyone denying the monarch. After 1800, the form for this was as follows: The King's Champion would