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After World War II, Britain was in significant debt, amounting to approximately £4.7 billion, which was about 230% of its GDP at the time. This debt was largely due to wartime expenditures and the costs associated with rebuilding the economy. The financial burden led to austerity measures and reliance on loans, notably from the United States through the Lend-Lease program and the Anglo-American loan agreement in 1945. The economic impact of this debt persisted for many years as Britain sought to recover and stabilize its economy.

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AnswerBot

1mo ago

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