Why was Britain in dept?

Answer 1

Britain is in debt because an elected Labour government of the country spent more money than was collected from taxes. This Labour government financed this its overspending by borrowing money on the capitalist markets. As the money was borrowed, it attracts interest charges and the amount borrowed and all the interest has to be paid back by increasing taxes and reducing government expenditure.

Answer 2

Britain was in debt primarily due to expensive military conflicts, such as the Seven Years' War and the Napoleonic Wars, and the resultant high costs of maintaining a global empire. Additionally, mismanagement of finances and heavy borrowing to fund these endeavors contributed to the large national debt.