Britain gained the opportunity to employ her former colonies, and possessions of the Crown, to organise capital flight from all around the world. The Cayman Islands, Cyprus, Dubai, Guernsey, Hong Kong, the Isle of Man, Jersey, Mauritius, Singapore and many other such tax havens enable wealthy individuals to conceal their liquid assets. Yet their close connection with London, that most efficient financial centre, enables the best possible returns for the super-rich. All this is possible because Britain avoided honouring her war time debts to India and other countries promptly, and in convertible currency. The enforced Indian loan acted as developmental finance to the UK economy. India’s sacrifices during the war and after may have benefited it but little. But they certainly made possible the London of today.