1945 war debt to US 'almost paid'

[Hanno Spoelstra]

Originally posted by Richard Notton
Lend-Lease was replaced, or converted, in Aug 1945 by a loan to cover it of $130,000,000,000 and from 1951 at a rate of 2% interest. Doesn't seem like "at cost" or "without interest".

It has nothing to do with helping out your neighbour - war is big business. It was and still is.

It is also recognised that a different situation might have ensued if we had demanded royalties on the free-issue technology of the magnetron, jet engine, antibiotics and nuclear research.

And don't forget the research into metal fatigue on pressurised aircraft fuselages. Britain learned an expensive lesson with the Comet, of which the lessons learned were shared freely with other aircraft manufacturers.

H.