Debts Paid Off

Funny, I seem to remember an announcement about this in the early days of Labour's current incumbency so I was surprised to hear that item. Maybe it was one of GB's many announcements of what he would be doing in the future?

Finally you can allow yourself a good night's sleep.

Cheers Tim

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I had no idea the Canadians also lent us so much!

Cheers guys!

I thought the same thing Tim.I`m sure Gordon Brown announced it after one of his "great"years of financial prudence.If you can be bothered digging through Hansard I`m sure we could prove it.BG. Mark.

In article , Kevin Steele writes

From my readings, the UK had before WWII the largest overseas investment portfolio in the world. When we were fighting alone (but for the gallant help of the Empire countries) for world freedom for over 2 years, the USA first relieved us of all our gold reserves and most of these overseas investments to pay for supplies, then lent us money and goods which we have been paying for over 60+ years. To add insult to injury, they then turned round and gave much of that money to the rebuilding of Europe, especially Germany, creating an "economic miracle" which we, virtually bankrupt, could not compete with. Only in the last 20 years has the true position re-surfaced, i.e. that the UK is as competitive as any country in Europe. Of course, it is also fair to add that we probably could not have survived without this help, and no-one else was willing or able to give it at the time.

Interestingly, it was a US colleague who first pointed out to me that the other major factor holding back the UK economic recovery has been that we always obey the daft European rules, whereas many of our competitors flout them, openly or covertly.

Still, I can feel slightly pleased with myself - paid off the mortgage last month, a month earlier than the UK ... Only took 25 years (but it wasn't quite as big).

Happy New Year,

David

I don't remember any such claim - but what I do remember was a lot o

noise about repaying part of the national debt - some of which predate the battle of Waterloo. More weirdo econ stuff here (worth ploughin through to the end):

-- Myford Mat

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Yes, and all kinds of ships, 1,400 Hurricanes, and A whole bunch of bombers, including Lancasters.

Steve R. on Vancouver Island whose uncle was a bomb aimer in a Canadian Lancaster operating from Lowestoft.

Let's stick to model engineering (here) - this is only going to end i

tear

-- Myford Mat

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As reported here, it was postwar loans that were being repaid.

Iirc, lend-lease equipment couldn't be repatriated back to the US.

Tom