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942982
star this property registered interest false more like this
star this property date less than 2018-07-17more like thismore than 2018-07-17
star this property answering body
Attorney General more like this
star this property answering dept id 88 more like this
unstar this property answering dept short name Attorney General remove filter
star 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 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Attorney General, if he will seek the release of money from the National Fund in order to set up a fund for good causes. more like this
star this property tabling member constituency Croydon North more like this
star this property tabling member printed
Mr Steve Reed more like this
star this property uin 165032 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 2018-07-23more like thismore than 2018-07-23
star this property answer text <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>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>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>I consider that applying the fund in reduction of the national debt is the correct approach. This approach maintains the original charitable purpose of the national fund, namely the reduction of the national debt and it honours the original intention of the donors as a result of whose generosity the fund exists.</p><p>We await a hearing date from the High Court.</p>
star this property answering member constituency Torridge and West Devon more like this
star this property answering member printed Mr Geoffrey Cox more like this
star this property grouped question UIN 165033 remove filter
star this property question first answered
less than 2018-07-23T09:29:57.717Zmore like thismore than 2018-07-23T09:29:57.717Z
unstar this property answering member
1508
star this property label Biography information for Sir Geoffrey Cox more like this
star this property tabling member
4268
unstar this property label Biography information for Steve Reed more like this