In Parliament last week Chancellor of the Exchequer Sir Kingsley Wood announced that Britain was spending £13,000,000 ($52,000,000) a day (or $2,166,666 every hour) on World War II. This was 50% greater than the peak spending of World War I.
Total British spending during the first two years of World War II was £7,018,000,000 ($31,231,100,000), of which war services took £5,668,000,000 ($25,122,600,000). This was 150% greater than 1914-16 spending.
Other Wood points on the cost of war:
> Forty per cent of war's expenses are being met out of current income, as against 25%...
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