A Matter of Life and Death

Marius Goring in A Matter of Life and Death

A movie for every day of the year – a good one 29 December UK pays off Second World War debt, 2006 On this day in 2006, the last working day of the year, the British Government made the last of 50 payments to the US and Canada, money it had borrowed off them in 1945 at the end of the war, when the British economist John Maynard Keynes had been dispatched to Washington with the begging bowl. With the national debt standing at 180% of gross domestic product, the government had expected, or hoped for, a grant. Instead it was offered a loan, on terms of 2% interest annually, a rate that … Read more