Search results
Results from the WOW.Com Content Network
About 3 ⁄ 7 of British national debt in 1776, and 1 ⁄ 3 of major stocks like the East India Company, were held by Dutch bankers. [4] 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). [5]
The East India Company had eighteen million pounds of tea sitting in British warehouses unsold. [60] On 14 January 1773, the directors of the EIC asked for a government loan and unlimited access to the tea market in the American colonies, both of which were granted. [61] In August, the Bank of England assisted the EIC with a loan. [62]
The Seven Years' War (1756-1763) brought great financial burdens on Great Britain, Kingdom of Prussia, Austria, France, and Sweden.The costs of fighting a protracted war on several continents meant Britain's national debt almost doubled from 1756 to 1763, and this financial pressure which Britain tried to alleviate through new taxation in the Thirteen Colonies helped cause the American Revolution.
The British government budget deficit or surplus is the cash difference between government receipts and spending. The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion ...
The rise and growth of the national debt, combined with the creation of an effective banking system. (The greater part of the 18th century was occupied with the working out of these results.) The government of William III faced the expense of war whilst simultaneously needing to allay discontent at home. As a preliminary to settling the ...
As industrialisation took effect in the late 18th and early 19th century, the United Kingdom possessed a strong national government that provided a standard currency, an efficient legal system, efficient taxation, and effective support for overseas enterprise both within the British Empire and in independent nations.
British colonial architecture, such as in churches, railway stations and government buildings, can be seen in many cities that were once part of the British Empire; [280] Western technologies and architecture had been globalised in part due to the Empire's military and administrative requirements. [281]
The system of smuggling finished products into the continent undermined French efforts to ruin the British economy by cutting off markets. The British budget in 1814 reached £66 million, including £10 million for the Navy, £40 million for the Army, £10 million for the Allies, and £38 million as interest on the national debt.