how much did ww2 cost britain

Russia-Ukraine war: Will there be a spring counteroffensive? TOKYO (NOVEMBER 1944-AUGUST 1945) over 100,000 deaths. New guide to religion in schools in response to tumbling parent religion figures, MDU appoints criminal law specialist to head legal team. China also lost an astounding 20,000,000 people during the conflict. Britain imported 70% of its food; this required 20 million tons of shipping a year. The Treasury will send 42.4 million to the US and 9.98 million to Canada via electronic payment, the 50th instalment on a loan that without which Britain may have collapsed under the cost of six years of war with Germany. On 31 December 2006, Britain made a final payment of about $83m (45.5m) and thereby discharged the last of its war loans from the US. Some automated-tools could help already in 1940s' industry, but they were better used in steel-based mnaufacturing (tanks for example) than wood-based such as aircraft. Which country was bombed the most in ww2? By the end of World War II Britain had amassed an immense debt of 21 billion. The economic cost of this war has greatly changed the world by altering the power structure of the world. There can be no real statistical measurement of the human and material cost of World War II. The national debt increased from 650million in 1914 to 7.40billion in 1919. 808,471 aircraft engines accepted, 1940-1945. Learn about the horrible conditions of German and Soviet prisoners of war during World War II, Witness the sinking of the German cruise liner MV, Forces and resources of the European combatants, 1939, The Baltic states and the Russo-Finnish War, 193940, The war in the west, September 1939June 1940, The invasion of the Low Countries and France, Italys entry into the war and the French Armistice, The Atlantic and the Mediterranean, 194041, Pearl Harbor and the Japanese expansion, to July 1942, Developments from autumn 1941 to spring 1942, Allied strategy and controversies, 194042, The Germans summer offensive in southern Russia, 1942, The Solomons, Papua, Madagascar, the Aleutians, and Burma, July 1942May 1943, Montgomerys Battle of el-Alamein and Rommels retreat, 194243, Stalingrad and the German retreat, summer 1942February 1943, The invasion of northwest Africa, NovemberDecember 1942, The Atlantic, the Mediterranean, and the North Sea, 194245, The Eastern Front, FebruarySeptember 1943, The Southwest and South Pacific, JuneOctober 1943, The Allied landings in Europe and the defeat of the Axis powers, Developments from autumn 1943 to summer 1944, Sicily and the fall of Mussolini, JulyAugust 1943, The Allies invasion of Italy and the Italian volte-face, 1943, The western Allies and Stalin: Cairo and Tehrn, 1943, The Eastern Front, October 1943April 1944, The war in the Pacific, October 1943August 1944, The Burmese frontier and China, November 1943summer 1944, Developments from summer 1944 to autumn 1945, The Allied invasions of western Europe, JuneNovember 1944, Allied policy and strategy: Octagon (Quebec II) and Moscow, 1944, The Philippines and Borneo, from September 1944, The German offensive in the west, winter 194445, The Soviet advance to the Oder, JanuaryFebruary 1945, The end of the Japanese war, FebruarySeptember 1945. But you started in 1940 and I'll like to keep the discussion at that year. - they are very hard to trust in war economies (prices are often determined by government fiat, not market) of different countries (but please feel free to prove me wrong). Millions of other persons of almost every European nationality also returned to their own countries or emigrated to new homes in other lands. The table above outline the approximate expenditures of various world nations during World War II. This week we finally honour in full our commitments to the US and Canada for the support they gave us 60 years ago, Ed Balls, the economic secretary to the Treasury, said last night. Who were the leaders during World War II? If we leave with no deal, its highly uncertain whether or not wed legally have to pay that bill. Privacy, terms and conditions. Hitler was enraged and ordered the Luftwaffe to shift its attacks from RAF installations to London and other British cities. United Shipbuilding Corp. > Country: Russia. On further reflection, however, to prevent large numbers of U.S. casualties that would result from the invasion, President Harry S. Truman ordered the use of a new atomic weapon instead. A good answer would list of couple of fighters, describe their production costs and explain where the data is from and how reliable it is. Further, this work examines the reasons for the high cost of the war. History Stack Exchange is a question and answer site for historians and history buffs. How did they ration food during world war 2? However inexact many of the figures, their main import is clear. In the 20-year period from 1986/87 to 2006/07 government spending in the United Kingdom averaged around 40% of GDP. Weve written more about that prospect here. Nearly every human family felt scarred in some way by the war. Why did so many Chinese died in World war 2? The invasion began as ordered. The second process was more difficult, and it was truly something that made differences betweeen the capabilities of fighting countries to produce more or less airplanes. Finally, at 12:40 pm on August 31, 1939, Hitler ordered hostilities against Poland to start at 4:45 the next morning. (Read Sir John Keegans Britannica entry on the Normandy Invasion.). Being able to produce more material might not always be enough. Home | About | Contact | Copyright | Report Content | Privacy | Cookie Policy | Terms & Conditions | Sitemap. 22,293,950,000. Dr. Thomas Alexander Hughes (BA, Saint Johns University; MA, PhD, University of Houston) is an associate professor at the School of Advanced Air and Space Studies, Maxwell AFB, Alabama. However, a primary reason the P51 had a high kill ratio against the BF109 was better trained pilots - later in the war, Germany didn't have the fuel or resources to fully train combat pilots, to replace those lost. In Britain, bacon was among the first products to be rationed, beginning in January 1940 (via Spartacus Educational ). English version of Russian proverb "The hedgehogs got pricked, cried, but continued to eat the cactus". Civilian deaths from land battles, aerial bombardment, political and racial executions, war-induced disease and famine, and the sinking of ships probably exceeded battle casualties. To determine the most expensive wars in U.S. history, 24/7 Wall St. used a 2010 report from the Congressional Research Service titled "Costs of . World War II. World War I cost more money than any previous war in history. An estimated 16,825,000 people died in the war, over 15% of its population. What was the most destroyed city in World war 2? BRITAIN'S MILITARY COSTS DURING THE SEVEN YEARS' WAR (May 2010) Jeremy Land, B.S., Appalachian State University . 9 Things You Might Not Know About Adolf Hitler, The First Atomic Bombs Tested and Used During World War II, 41 Questions from Britannicas Most Popular World History Quizzes. You must have JavaScript enabled to use this form. In 1931, President Herbert Hoover announced a one-year moratorium on war loan repayments from all nations, due to the global economic crisis, but by 1934 Britain still owed the US$4.4bn of World War I debt (about 866m at 1934 exchange rates). Only for the United States and the British Commonwealth can official figures showing killed, wounded, prisoners or missing for the armed forces be cited with any degree of assurance. How many people died during World War II? [5] However, during World War I the British government was forced to borrow heavily in order to finance the war effort. did much to reinforce this perception, along with Wilson's own sense of insecurity in office. As the 1980s and 1990s progressed, the proportion of debt to GDP fluctuated up and down according to how the wider economy was performing, remaining relatively constant during the early 1980s recession, falling in the latter half of the decade, and rising again as the early 1990s recession reduced tax receipts. The Ministry of Food did not want to risk the lives of sailors for food that would be wasted, and reducing imports also saved money for armaments. Latest estimates suggest this will be just under 40 billion. > Profit: $90.0 million. In the latter category fall about 5,700,000 Jews, more than half of them from Poland, who died in Nazi concentration and death camps. During World War II the government was again forced to borrow heavily in order to finance war with the Axis powers. This does not answer the question, but describes how to do it. It was America's costliest war ever America's final bill for the fighting in the Pacific and Europe was massive. Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. Updates? Connect and share knowledge within a single location that is structured and easy to search. The money cost to governments involved has been estimated at more than $1,000,000,000,000 but this figure cannot represent the human misery, deprivation, and suffering, the dislocation of peoples and of economic life, or the sheer physical destruction of property that the war involved. Italy . The opinions in Politics.co.uk's Comment section are those of the author. Please note that I am not talking about monetary cost (e.g., 9,500 for a Spit vs RM42,900 for a bf109 - how do you compare currencies in the absence of trade?) You deserve better. On September 2, the Japanese High Command formally surrendered aboard the battleship USS Missouri in Tokyo Bay. Europe The war in the Pacific began on December 7/8, 1941, when Japan attacked the American naval base at Pearl Harbor and other American, Dutch, and British military installations throughout Asia. What restrictions were in place after WWII on the German aircraft industry? 19. He formerly served Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. The Treasury will send 42.4 million to the US and 9.98 million to Canada via electronic payment, the 50th instalment on a loan that without which Britain may have collapsed under the cost of six years of war with Germany. What are the advantages of running a power tool on 240 V vs 120 V? It allowed the recently reunited Germany to have full sovereignty over its internal and external affairs. Loans issued by and to Britain during the first world war have never been resolved. Weve asked Mr Kawczynski for a source for this figure, but so far he hasnt provided one. . It is estimated that more than 12,000 metric tons of bombs were dropped on London and nearly 30,000 civilians were killed by enemy action. Please read our privacy policy and terms of use before signing up. On 31 December 2006, Britain made a final payment of about $83m (45.5m) and thereby discharged the last of its war loans from the US. Man hour numbers are accurate for aircraft production, The cost in motorization should be taken into account and could explain "gaps" between German and British production. Net costs to U.S. taxpayers totaled $4.7 billion in current year dollars. It's not cheap if it gets shot down quickly due to inexperienced pilots going up against pros. The UK was the world's second-biggest arms exporter behind the United States over the past decade, government figures suggest. By the end of World War II Britain had amassed an immense debt of 21 billion. Resulting in 1 reichsmark being equivalent to 0.0992556 British pounds, or 1 British pound being equivalent to 10.075 reichsmark. Britain will settle its World War II debts to the US and Canada when it pays two final instalments before the close of 2006, the Treasury has said. How many Londoners died in ww2? The loans provided essential capital for the reconstruction of Britain after the war in 1950, national debt stood at twice (200 per cent) the gross domestic product (GDP) of the country. Great Britain and France responded by declaring war on Germany on September 3. The majority of those killed were civilians, and they lived on all continents. The national debt increased from 650m in 1914 to 7.4 billion in 1919. [3] About .mw-parser-output .frac{white-space:nowrap}.mw-parser-output .frac .num,.mw-parser-output .frac .den{font-size:80%;line-height:0;vertical-align:super}.mw-parser-output .frac .den{vertical-align:sub}.mw-parser-output .sr-only{border:0;clip:rect(0,0,0,0);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px}37 of British national debt in 1776, and 13 of major stocks like the East India Company, were held by Dutch bankers. The loan was to be paid off in 50 annual repayments starting in 1950, but today's payment comes six years late. The loans were given at a very favourable two per cent rate of interest and under the agreement Britain was allowed to defer payments whenever it wanted. The Normandy campaign saw the Anglo-American armies inflict a decisive defeat on the German military machine. If as you state, a Spitfire cost 9,500 to produce. HAMBURG (SEPTEMBER 1939-APRIL 1945) 42,600 deaths. It was under air raid alert for 1,000 hours. After the war the debt gradually decreased as a proportion of GDP, but in the 1970s, following a Sterling crisis, the British government was forced to seek help from the International Monetary Fund (IMF). At the end of World War I, Germans could hardly recognize their country.Up to 3 million Germans, including 15 percent of its men, had been killed.Germany had been forced to become a republic . There is a wide consensus that Bf-109 was more cost effective than Spitfire, but on the other hand Spitfire was what Britain had, plus they had more resources available than Germany and frankly less enemies :) Especially after Barbarossa. In East Asia, the victims of famine and pestilence in China are to be numbered in the millions, in addition to other millions of both soldiers and civilians who perished in battle and bombardment. Adjusted for inflation to today's dollars, the war cost over $4 trillion and in 1945, the war's last year, defense spending comprised about 40% of gross domestic product (GDP). Cost Benefit Analysis of Everything in Life, Ballpark Estimate:$288 Billion (1940 dollars). Adjusted for inflation to todays dollars, the war cost over $4 trillion. The UK is about to pay off the last of its World War II loans from the US. 2.3 million combat sorties, 1941-1945 (one sortie = one takeoff). Figures rounded to thousands (and this device has been employed in all cases for total deaths) are estimates of varying reliability while omissions in any category indicate that any estimate would be the wildest of conjectures. The principal belligerents were the Axis powersGermany, Italy, and Japanand the AlliesFrance, Great Britain, the United States, the Soviet Union, and, to a lesser extent, China. This was due to extra government borrowing, largely caused by increased spending on health, education, and social security benefits. Millions throughout Europe were rendered homeless. Britain was indeed, in a 'financial Dunkirk.' In 1945, following a number of meetings and lots of paperwork, the UK received a total of 4.33 billion dollars from the US. British Colonies: 125,000,000: Others: Background . > Total sales: $4.5 billion. "Good-bye Great Britain": 1976 IMFn Crisis, K Burk, Dutch bankers owned majority of British national debt in early 19th century, Daily Telegraph account of 1976 UK debt crisis, Uk National Debt "Bombshell" - webpage discussing the National Debt, Budget 2008 UK Budget 2008 from HM treasury, HM Treasury Whole of Government Accounts development programme, Government 'hides' billions wasted in public services, Sunday Times, 1 May 2005, Better Government Initiative experts say billions wasted on services, Daily Telegraph, 24 November 2007, PricewaterhouseCoopers budget coverage and analysis, https://en.wikipedia.org/w/index.php?title=History_of_the_British_national_debt&oldid=1134014203, Articles with failed verification from February 2021, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 January 2023, at 16:07. What were the turning points of World War II? A book about the Mosquito plane stated that wooden planes had the advantage of leveraging smaller tool shops that would not be useful to the war effort otherwise (besides not using scarce metals). In a secret protocol of this pact, the Germans and the Soviets agreed that Poland should be divided between them, with the western third of the country going to Germany and the eastern two-thirds being taken over by the U.S.S.R. Having achieved this cynical agreement, the other provisions of which stupefied Europe even without divulgence of the secret protocol, Hitler thought that Germany could attack Poland with no danger of Soviet or British intervention and gave orders for the invasion to start on August 26. However it is unknown whether the boost to the modern economy has offset the enormous financial ramifications of the Blitz to Britain. Cost in Money and Lives Monetarily, in 1940 dollars, the estimated cost was $288 Billion. Have the Conservative party shot themselves in the foot over voter ID? In eastern Europe the devastation was even worse. In addition, the effects of the war on the U.S. economy were that it decisively ended the depression and created a booming economic windfall. On 10 May 1941 more than 3,000 Londoners died or were seriously injured. That same year, Nazi Germany, in pursuing its own expansionist agenda, invaded Poland and over the next two years continued its aggression by occupying Denmark, Norway, France, and then Russia in 1941, with Italy now entering the war allied with the Germans. The news spread quickly and celebrations erupted across the United States. To learn more, see our tips on writing great answers. This led to a frenzy of interest in the company, whose shares reached ten times their original issue price. BERLIN (1940-1945) 20,000 to 50,000 deaths. By Robert B. Bryce, . For some people, the cost of the war is considered strictly in monetary terms. Thus, 2.50 reichsmark was equivalent to 1/4.03 (0.2481) British pounds during WW II. In the middle between the most expensive and least expensive aircraft produced between 1939-1941 is the "Boeing B-17", priced at $301,221, costing about $4,677,477 in today's money. After that it began to increase, despite sustained economic growth, as the Labour government led by Tony Blair increased public expenditure. Copyright 2010-2023 Full Fact. as despite the end of World War II, Britain continued to wage numerous small colonial conflicts around the globe: . Canada and the Cost of World War II The International Operations of Canada's Department of Finance, 1939-1947. Immediately prior to the German invasion of Russia, Hitler decided to cut the number of tanks per division in half from 300 to 150 in order to double the number of Germany's Panzer divisions on . 299,230 aircraft accepted, 1940-1945. By 1942 many other foodstuffs, including meat, milk, cheese, eggs and cooking fat were also 'on the ration'. Does that make the BF109 'better'? Why Do Cross Country Runners Have Skinny Legs? Cheers This bombing blitzkrieg (lightning war) would continue until May 1941. During the Great Depression Britain ceased payments on these loans, and they remain outstanding. 8 Financing Britain Further and Keynes's Visits 189 9 Working up to Bretton Woods 225 10 International Institutions 254 11 The 1946 British Loan and Settlement 283 News of the signing, on August 25, of a formal treaty of mutual assistance between Great Britain and Poland (to supersede a previous though temporary agreement) caused him to postpone the start of hostilities for a few days. A liquidity problem and collapse followed. The events leading up to the war can be traced back to 1937 when Japan, seeking to extend her colonial realm and to secure vast raw material reserves and natural resources such as ores and petroleum, launched a full-scale invasion of mainland China. World War Two had been extraordinarily costly for Britain and her empire, and in 1945 the country was exhausted and devastated. Sensitivity notice: Aboriginal and Torres Strait Islander viewers are advised that this website may contain images and voices of deceased ancestors. . The end of hostilities brought a return of evacuees, and . Problems arose on the American side, with many in Congress . What were the turning points of World War II? In 2007 dollars this would amount to approximately $5 Trillion. The roads of Europe were swamped by refugees all through 1945 and into 1946 as more than 5,000,000 Soviet prisoners of war and forced labourers returned eastward to their homeland and more than 8,000,000 Germans fled or were evacuated westward out of the Soviet-occupied portions of Germany. World War II had begun. Italy, though at first a German ally, fared no better. Contents 1.1.1 Estonia. Learn about Allied and Axis leaders, the Allied invasion of Normandy, and the dropping of atomic bombs, View the mass migration of German refugees, as the Soviet army advances into East Prussia, January 12, 1945, Witness struggles of Europeans lacking food and shelter after World War II, Discover the life of the refugees and displaced people migrating from East to West Germany after World War II, Forces and resources of the European combatants, 1939, The Baltic states and the Russo-Finnish War, 193940, The war in the west, September 1939June 1940, The invasion of the Low Countries and France, Italys entry into the war and the French Armistice, The Atlantic and the Mediterranean, 194041, Pearl Harbor and the Japanese expansion, to July 1942, Developments from autumn 1941 to spring 1942, Allied strategy and controversies, 194042, The Germans summer offensive in southern Russia, 1942, The Solomons, Papua, Madagascar, the Aleutians, and Burma, July 1942May 1943, Montgomerys Battle of el-Alamein and Rommels retreat, 194243, Stalingrad and the German retreat, summer 1942February 1943, The invasion of northwest Africa, NovemberDecember 1942, The Atlantic, the Mediterranean, and the North Sea, 194245, The Eastern Front, FebruarySeptember 1943, The Southwest and South Pacific, JuneOctober 1943, The Allied landings in Europe and the defeat of the Axis powers, Developments from autumn 1943 to summer 1944, Sicily and the fall of Mussolini, JulyAugust 1943, The Allies invasion of Italy and the Italian volte-face, 1943, The western Allies and Stalin: Cairo and Tehrn, 1943, The Eastern Front, October 1943April 1944, The war in the Pacific, October 1943August 1944, The Burmese frontier and China, November 1943summer 1944, Developments from summer 1944 to autumn 1945, The Allied invasions of western Europe, JuneNovember 1944, Allied policy and strategy: Octagon (Quebec II) and Moscow, 1944, The Philippines and Borneo, from September 1944, The German offensive in the west, winter 194445, The Soviet advance to the Oder, JanuaryFebruary 1945, The end of the Japanese war, FebruarySeptember 1945.

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