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<p>The National Fund was created in 1928 with the purpose of paying off the entire
national debt. At present the fund cannot be used unless it completely clears the
national debt, due to the terms of the fund’s charitable trust.</p><p> </p><p>On 22
May 2018 my predecessor made an application to the High Court to vary the terms of
the charitable trust so that the National Fund can be used to help pay down the national
debt.</p><p> </p><p>It is now for the High Court to decide whether the terms of the
charitable trust should be varied. If the application is successful the money in the
fund will be paid over to the National Debt Commissioners towards the reduction of
the national debt.</p><p> </p><p>A hearing of the claim is due to take place in October.</p><p
/><p /> <p> </p>
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