Image from ww1propaganda.com
The UK government is to repay all of its First World War debts and will examine ways to pay off other unpaid gilts in its portfolio – some of which date back to the 18th century – Chancellor George Osborne has announced.
Osborne said on Wednesday that the UK Treasury will pay back the £1.9 billion ($2.9 billion) outstanding war loan perpetual bond on March 9, 2015. This is the successor to the loans that were sold to the public in 1917 to help finance World War I.
The UK used propaganda throughout the First World War to encourage people to buy war bonds and make a patriotic investment.