(outline the changes in Britain's position in the world her 1945
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Britain since 1945
•• Labour and the welfare state(1945-51)••
Labour rejoiced at its political triumph, the first independent parliamentary majority in the party’s history, but it faced grave problems. The war had stripped Britain of virtually all its foreign financial resources, and the country had built up “sterling credits” debts owed to other countries that would have to be paid in foreign currencies amounting to several billion pounds.
More debate came over Labour’s social welfare legislation, which created the “welfare state.”
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