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UK: A short history of public borrowing for wars
The FRED graph above shows public lending (positive values) and public borrowing (negative values) for the United Kingdom since the year 1700. The timeline includes large downward swings that are dominated by wars: • War of the Spanish Succession and Queen Anne’s War (1701-1714) • War of the Austrian Succession (1740-1748) • Seven Years’ War (1756-1763) • American Revolutionary War and associated wars (1775-1783) • Seven coalition wars, including the French Revolution and Napoleonic wars (1792-1815) • World War I (1914-1918) • World War II (1939-1945) Of course, the United Kingdom fought many more ... (full story)