Posted on 03/14/2015 7:19:45 AM PDT by C19fan
Britain's First World War debt has finally be repaid in full more than 100 years after the outbreak of the conflict.
The Government repaid some £1.9billion still owed to more than 100,000 people who held 'War Bonds', issued in 1917 to help fund the military effort.
George Osborne said he could pay off the debts because he can borrow the money cheaper elsewhere.
(Excerpt) Read more at dailymail.co.uk ...
Paying 3.5% for all those years. The current historically low interest rates means that the UK can now borrow money at lower interest.
It’s hardly repaying a debt when you borrow money to repay it.
Britain Refinances War Debt More Than 100 Years After Start of Conflict
How much Tax would you have to pay ?
BUMP
Well, it’s ABOUT time...
Now they can start chipping away at that pesky WWII debt!
/sarc
Yeah. in modern parlance that’s a “re-fi”.
True, but at least its lowering the interest repayments a little. The debt crisis is still there of course, but doing this is better than not doing it.
Absolutely no argument that it is the right thing to do. Just don’t call a re-fi a pay-off.
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