Financing WW2

(click here to see out article about Financing WW1)

Wars cost money – a LOT of money. As with WW1, the government used various schemes and methods to raise the necessary funds. These schemes were promoted by appeals to the public that investing in them was the patriotic thing to do.

The War Office re-organised the Regional Savings Committees and savings groups were set up by volunteers in work places, schools and clubs. Savings stamps were sold costing 6d (2.5p) also 2s6s (12.5p). These stamps could be exchanged for a National Savings Certificate costing 15s (75p) or £5 Defence Bond each offering a good rate of return after the war.

In the five weeks to 30 March 1940 Epsom & Ewell savers raised £62,568. Later themed local savings weeks, such as Spitfire Week, were promoted to support the forces. Local groups were targeted to raise large amounts ideally enough to buy a plane or ‘adopt’ a ship and its crew. The local target for the January 1942 Warship Week was £250,000 but the sum raised was a whopping £705,000.