Chapter 294: The £200,000 Deal_3

Hearst nodded and said, "For the expansion of the docks in recent years, we have already applied to issue 90,000 British Pounds in city development bonds. Now, if we want to issue new debt, it will be difficult to persuade the Treasury and Public Works Committee to loosen their purse strings."

Upon hearing this, Arthur's brows furrowed even more, and his fingertips tapped the coffee table, "Why is the Treasury so strict with local debt? Liverpool only released 100,000 British Pounds; isn't that too little?"

Not participating in the conversation thus far, young Gladstone suddenly spoke up: "The reason behind this is quite simple, yet also very complex. First of all, it's because Britain's current total debt is already very large. Mr. Hasting, do you know how much Britain's national debt totals right now?"