Answer:
True.
Explanation:
Great Britain spent more than £45 million on the navy during the war - around a quarter of its entire war expenditure.
By the end of the war, Britain's national debt stood at £132.6 million. Interests payments on the debt exceeded half of the British Government's budget. By December 1762, British naval debt had increased to £5,929,125 from £3,072,472 in 1749.
