During World War II, the British destroyed the major government buildings, oil wells and mines for tungsten, tin, lead and silver to keep them from the Japanese. Myanmar was bombed extensively by both sides. After independence, the country was in ruins with its major infrastructure completely destroyed. After a parliamentary government was formed in 1948, Prime Minister U Nu embarked upon a policy of nationalisation and the state was declared the owner of all land. The government also tried to implement a poorly considered Eight-Year plan. By the 1950s, rice exports had fallen by two thirds and mineral exports by over 96% (as compared to the pre-World War II period). Plans were partly financed by printing money, which led to inflation.