National Fund

(asked on 31st October 2018) - View Source

Question to the Attorney General:

To ask the Attorney General, pursuant to the Answer of 23rd July 2018 to Question 165033 on the National Fund, whether he has received a hearing date from the High Court on his application to release the money held by the National Fund.


Answered by
Robert Buckland Portrait
Robert Buckland
This question was answered on 5th November 2018

The National Fund was set up by a trust deed in 1928. The Fund is held on trust for the purpose of reducing the National Debt. According to expert evidence, there is no realistic prospect of the Fund ever amounting to a sum sufficient to pay off the whole of the National Debt. On 22nd May 2018 the former Attorney General made an application to the High Court to vary the terms of the charitable trust.

While we expect the substantive hearing to take place in 2019, we have not yet received a hearing date from the High Court.

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