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<p>The National Fund was created in 1928 with an initial anonymous donation of £500,000
with the aim of eventually extinguishing the national debt. It has accumulated significant
funds through further donations and income over the years, as set out in the <strong><ins
class="ministerial">attached </ins></strong>chart <del class="ministerial">below</del>.
It is currently estimated to be worth over £460 million.</p><p>The terms of the deed
of Trust for the National Fund are such that the Trustees are required to accumulate
the net income and profits of the trust fund until the value of the fund along with
its accumulated income, when added to the value of any other funds applicable for
the same purpose, is sufficient to discharge the entirety of the National Debt. Given
the terms of the trust, the money is currently ‘locked’ in the fund.</p><p>The Attorney
General’s Office is working with the Charity Commission and the Fund’s trustees to
help resolve this legally complicated matter.</p><p> </p><p> </p>
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