The economic position of Britain in 1945

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  • The Economic Position of Britain in 1945.
    • Britain s national debt was £3,500 million.
    • Britain had lost 30% of its total wealth.
    • The USA ended the Lend-Lease agreement.
    • A third of Britain's housing stock had been destroyed.
    • Half of Britain's factories and shops had been destroyed.
    • Two thirds of Britain's merchant fleet had been sunk.
    • Military deaths = 264,433
    • Civilian deaths = 60,595
    • Rationing remained in place
      • Britain could not afford to buy food from abroad.
    • Income tax was raised to 50%

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