When did a Billion become a Trillion?

Ian_Griffiths_Halifax

Watching the news last night it occured to me that, while it's now widely accepted, the news, the government and financial institutions are increasingly using the American Billion when referring to our £1000,000,000.

The News made it sound worst by then going on to say something along the lines of, 'this could cost the government half a Trillion pounds'.

Well a UK Billion is £1000,000,000,000.
A UK Trillion is £1000,000,000,000,000,000.

A US Billion is £1000,000,000.
A US Trillion is £1000,000,000,000. That's our Billion.

When did it all change and does anybody know if it is now 'official'?

Bean_Counter

Ian_Griffiths_Halifax wrote: »

When did it all change and does anybody know if it is now 'official'?

Not sure on either count, but I have been using the American billion in financial circles for many years now, and as far as I can tell, the American system it is now pretty much standard. I've not come across a UK billion for a long time.

Ian_Griffiths_Halifax

Having never done a Billion pound mortgage, it's just something that I've seen happening more and more over the last 5/10 years or so.

We are becoming Americanized. :eek:

Andy_L

1974 apparently, although obviously, like metrication, it's still a work in progress
http://en.wikipedia.org/wiki/Billion_(word)

Ian_Griffiths_Halifax

Andy_L wrote: »

1974 apparently, although obviously, like metrication, it's still a work in progress
http://en.wikipedia.org/wiki/Billion_(word)

I was only 8 and I was taught the UK versions.

JonnyBravo

I was 4 and I've always used the US version (although I was aware 2 existed in the past)

theboylard

Discussing this in the pub last night whilst getting soundly thrashed at pool - was fairly confident in my number of 0's, so thanks Ian - my numbers are same as yours!!!
Still, means some of those b'stard hedge fund managers aren't as rich as they thought

poker_face

If a Billion is 1000 Million, then surely 1,000,000,000 is a billion?
and trillion is 1,000,000,000,000

Ian_Griffiths_Halifax

JonnyBravo wrote: »

I was 4 and I've always used the US version (although I was aware 2 existed in the past)

We couldn't afford to go to a good school. We only used old books. That's when we went to school 'cos me and me two bruvvers ad t' share't onli pair o' shoes we ad'.

It's grim up north.

Ian_Griffiths_Halifax

Andy_L wrote: »

1974 apparently, although obviously, like metrication, it's still a work in progress
http://en.wikipedia.org/wiki/Billion_(word)

That's a good explanation. I blame it all on the French.