War Debt

Any one see this on google news about Britain paying back its war debt to usa and Canada. Second world war


THE Government will this week fully discharge Britain's Second World War debts to America and Canada, when it pays the last instalment of multi-billion dollar loans which helped bankroll the war effort.

According to The Times, final payments will be made this Friday on the 4.33 billion (2.2bn) loaned by the US in 1945 and the 1.25 (£0.6bn) billion borrowed from Canada.

Payments of 83.25 million (£43 million) will be made to the US Government and 22.7 million (£11.6m) to Canada, the paper said.

[GrahamC]

Great news... only half a doz more wars to pay for now then.

[hermanmunster]

And the rest of the debt racked up in the last 5 years by Gordon 'Viv Nicholson' Brown. call me prudent...I think not

[Pat_C]

This seems to me like finding someone dying in the road and offering to help - for a flat fee of £500 (payable by instalments).

[Pat_C]

Originally Posted by hermanmunster

And the rest of the debt racked up in the last 5 years by Gordon 'Viv Nicholson' Brown. call me prudent...I think not

Ah - that would explain the pink Cadillac outside No. 11 then

[overkill]

The last govt paid back the largest sum since the 50's, and this is the last remnants of the debt. Since this country was officially bankrupt in 1940 and could not carry on the war, I think it's more a recognition of a moral duty rather than the money itself.

[JagoPlasma]

Originally Posted by Pat_C

This seems to me like finding someone dying in the road and offering to help - for a flat fee of £500 (payable by instalments).

not to mention the guy who was dieing did it to save yours(Americas) and others(France, etc) asses

[hermanmunster]

The price extracted by the USA for this help wasn't only financial. We had to give up all kinds of properties and back down on many issues too. The USA , I believe, made a profit from WW2 (notwithstanding the human cost of course).
The USA would not be the power it is today if WW2 didn't happen.

Still we were the beggars and so the proverb goes...we had no choice.

Contrary to the above I have no inherent dislike of the US.

[overkill]

Originally Posted by hermanmunster

The price extracted by the USA for this help wasn't only financial. We had to give up all kinds of properties and back down on many issues too. The USA , I believe, made a profit from WW2 (notwithstanding the human cost of course).
The USA would not be the power it is today if WW2 didn't happen.

Still we were the beggars and so the proverb goes...we had no choice.

Contrary to the above I have no inherent dislike of the US.

We certainly did. The US put enormous pressure on us to allow the spread of 'democracy' in our imperial territories, and played no small part in pressuring us to give it up. We also backed down in the face of US pressure (cynically, and domestically motivated I might add) over Palestine, pressure and decisions which we are still living with the consequences of today.

The US did indeed make a profit out of WW2. As they did in WW1. The US didn't come out of the Great Depression fully until the early 40's, surprise, that's when they started selling arms and equipment to us and the other allied powers, and developing their war economy.

Yes, we were beggars, and as such, short of doing what half the cabinet wanted, we needed US help.

[Miyazaki]

Originally Posted by Pat_C

This seems to me like finding someone dying in the road and offering to help - for a flat fee of £500 (payable by instalments).

Or holding your education to ransom, ala the labour party.

[overkill]

Originally Posted by Games Guru

Or holding your education to ransom, ala the labour party.

.......taken of course from a Tory Green paper. We can't win Guru, face it.

[Jenn]

Originally Posted by JagoPlasma

not to mention the guy who was dieing did it to save yours(Americas) and others(France, etc) asses

It was to save its own a** too I'd like to say. After France who do you think was next on the list? If Hitler hadn't chosen to go East before taking England history might have been well different.

But we had a war we pay for it hey... It's not like we don't charge other countries interest on their loans.

[drskhaled]

so what are we gonna do with all the extra millions we'll have next year now that we've paid off this debt? I reckon we should all have a party paid for by the govt.

[Jenn]

Originally Posted by drskhaled

so what are we gonna do with all the extra millions we'll have next year now that we've paid off this debt? I reckon we should all have a party paid for by the govt.

We'll spend in on Iraq I guess? Or TB's retirement fund...

[overkill]

Originally Posted by Jenn

It was to save its own a** too I'd like to say. After France who do you think was next on the list? If Hitler hadn't chosen to go East before taking England history might have been well different.

But we had a war we pay for it hey... It's not like we don't charge other countries interest on their loans.

The US offered to help only as a result of Roosevelts personal intervention. He (rightly) felt that should the NAZI's defeat us, then the whole World was at risk. The loan was offered because at that time the US was not at war with anyone, and the US public was still very much against coming in. Roosevelt, in fact had to battle with congress even to give us the support they did. Historians argue that he also cynically manoeuvred the Japanese into a position where they had two options. Attack the US or come to the table and submit to disarmament talks. With the military in command of Japan, the latter was never going to happen. Once the US was in, Roosevelt could legitimately give 'aid' as well as just 'lend'.

The loan was therefore an expedient. Without it we would have gone under, and Churchill would probably have been out voted by the half of the cabinet led by Halifax, and a shameful peace drawn up with NAZI Germany.

Actually Jenn, Hitler attacked Britain in 1940. He went East in 1941. He never really wanted to attack as at all, and attacked Russia when, and probably correctly, it was surmised that we posed no significant land based threat.

As such, the politicans argue it is right to pay it back.