These loans were taken out when the USA suddenly terminated the wartime lease-lend arrangements and were to keep our heads above water while we reconstructed our devastated industry and infrastructure. European countries took out similar loans under varying deals. The difference was they used theirs to ..... reconstruct their devastated industry and infrastructure. We used ours largely to.............fund the introduction of the welfare state and NHS. No surprises as to who did better. We can't blame anyone else.