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As the 1980s and 1990s progressed, the proportion of debt to GDP fluctuated up and down according to how the wider economy was performing, remaining relatively constant during the early 1980s recession, falling in the latter half of the decade, and rising again as the early 1990s recession reduced tax receipts. In the late 1990s and early 2000s ...
Like other sovereign debt, the British national debt is rated by various ratings agencies. On 23 February 2013, it was reported that Moody's had downgraded UK debt from Aaa to Aa1, the first time since 1978 that the country has not had an AAA credit rating. [12] This was described as a "humiliating blow" by Shadow Chancellor Ed Balls. George ...
Government borrowing for debt (10-year bond) increased to over 15% in the 1970s and early 1980s. The 1973 oil crisis caused an increase in the price of Brent Crude. Initiation of the inflationary cycle is traced to Anthony Barber's 1972 budget which was designed to return the Conservatives to power in an election expected in 1974 or 1975.
For a narrative explaining the overall developments, see the related history of the British Isles. For narratives about this time period, see Post-war Britain (1945–1979), Social history of post-war Britain (1945–1979), Political history of the United Kingdom (1979–present) and Social history of the United Kingdom (1979–present)
Its markets included both areas that were independent and those that were part of the rapidly expanding British Empire, which by the early 1900s had become the largest empire in history. After 1840, the economic policy of mercantilism was abandoned and replaced by free trade , with fewer tariffs, quotas or restrictions, first outlined by ...
British credit crisis of 1772–1773 – started in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce, and Down. War of American Independence Financing Crisis (1776) (United States) – The French monarchy went deeply into debt to finance its 1.4 billion livre support for the colonial rebels; Spain invested 700 ...
This is a timeline of British history, comprising important legal and territorial changes and political events in the United Kingdom and its predecessor states. To read about the background to these events, see History of England, History of Wales, History of Scotland, History of Ireland, Formation of the United Kingdom of Great Britain and Northern Ireland and History of the United Kingdom
The secondary banking crisis of 1973–1975 was a dramatic crash in British property ... prices of the late 1960s and early 1970s, borrowing excessively in relation ...