Earl of Bronze

The reason Britain grabbed it from the Spanish in the first place, was to use it as an important Naval Base. Working with bases in Malta and Alexandria, the RN was able to contain the Med, and all possible naval fleets from agressor nations. Without Gib, it is highly likely that Britain would have lost the war in North Africa, during WW2. Then during the Cold War, its importance as a Naval Base again came into porminance. Thats why we kept it, and I really dont see any point handing it back.