Was it good for Britain to have colonies?

Question:

Was it good for Britain to have colonies?

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Best Answer - Chosen by Asker: Three fold ...
First, colonies were a place where Britain could obtain a tremendous amount of raw materials. These could include everything from minerals to wool, from food items to lumber.
Second, colonies allowed Britain to have a market for their manufactured goods. Since colonies, almost by definition had little or no factories, this allowed the factories in Britain to prosper. This is why the "home spun" movement in India was so effective, it allowed the Indians to be independent of Britain economically.
Finally, colonies were a place where Britain could dump their undesirables. Most famously, of course, were the prisoners that were sent to Australia.