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818588
star this property registered interest false more like this
star this property date less than 2018-01-08more like thismore than 2018-01-08
star this property answering body
Attorney General remove filter
star this property answering dept id 88 more like this
unstar this property answering dept short name Attorney General more like this
unstar this property answering dept sort name Attorney General more like this
star this property hansard heading National Fund more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what progress they have made in enabling the National Fund charity to make appropriate donations; and whether they intend to apply to the courts for a scheme allowing the Fund to be used for its original purpose. more like this
star this property tabling member printed
Baroness Hayter of Kentish Town remove filter
star this property uin HL4465 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2018-01-22more like thismore than 2018-01-22
star this property answer text <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>
star this property answering member printed Lord Keen of Elie more like this
star this property question first answered
less than 2018-01-22T14:42:46.04Zmore like thismore than 2018-01-22T14:42:46.04Z
star this property question first ministerially corrected
less than 2018-05-16T10:48:18.387Zmore like thismore than 2018-05-16T10:48:18.387Z
unstar this property answering member
4538
star this property label Biography information for Lord Keen of Elie more like this
star this property attachment
1
star this property file name Chart 2.pdf more like this
star this property title Chart more like this
star this property previous answer version
35717
star this property answering member printed Lord Keen of Elie more like this
star this property answering member
4538
star this property label Biography information for Lord Keen of Elie more like this
star this property tabling member
4159
unstar this property label Biography information for Baroness Hayter of Kentish Town more like this
1079618
star this property registered interest false more like this
star this property date less than 2019-03-01more like thismore than 2019-03-01
star this property answering body
Attorney General remove filter
star this property answering dept id 88 more like this
unstar this property answering dept short name Attorney General more like this
unstar this property answering dept sort name Attorney General more like this
star this property hansard heading National Fund more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they hold information about the identity of the donor who set up the National Fund. more like this
star this property tabling member printed
Baroness Hayter of Kentish Town remove filter
star this property uin HL14160 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-03-14more like thismore than 2019-03-14
star this property answer text <p>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.</p><p>The 1928 deed does not record who the founder was, and it is apparent from accompanying documents that they wished to remain anonymous.</p><p>Her Majesty’s Government therefore does not hold information about the identity of the donor who set up the Fund.</p> more like this
star this property answering member printed Lord Keen of Elie more like this
star this property question first answered
less than 2019-03-14T17:12:40.857Zmore like thismore than 2019-03-14T17:12:40.857Z
unstar this property answering member
4538
star this property label Biography information for Lord Keen of Elie more like this
star this property tabling member
4159
unstar this property label Biography information for Baroness Hayter of Kentish Town more like this
1079620
star this property registered interest false more like this
star this property date less than 2019-03-01more like thismore than 2019-03-01
star this property answering body
Attorney General remove filter
star this property answering dept id 88 more like this
unstar this property answering dept short name Attorney General more like this
unstar this property answering dept sort name Attorney General more like this
star this property hansard heading National Fund more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether the Attorney General’s application to the High Court to release the assets of the National Fund has now been concluded; and if so, how those assets are shown in HM Treasury’s accounts. more like this
star this property tabling member printed
Baroness Hayter of Kentish Town remove filter
star this property uin HL14162 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-03-14more like thismore than 2019-03-14
star this property answer text <p>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.</p><p>The application made by the then Attorney General to the High Court on 22nd May 2018, to release the assets of the National Fund in order to pay down national debt, has not yet concluded. In February 2019 the High Court Listing Officer allocated a three day hearing during a five day window starting on 18 November 2019.</p> more like this
star this property answering member printed Lord Keen of Elie more like this
star this property question first answered
less than 2019-03-14T17:10:09.403Zmore like thismore than 2019-03-14T17:10:09.403Z
unstar this property answering member
4538
star this property label Biography information for Lord Keen of Elie more like this
star this property tabling member
4159
unstar this property label Biography information for Baroness Hayter of Kentish Town more like this