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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 attached <\/ins><\/strong>chart below<\/del>. It is currently estimated to be worth over £460 million.<\/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 \u2018locked\u2019 in the fund.<\/p>

The Attorney General\u2019s Office is working with the Charity Commission and the Fund\u2019s trustees to help resolve this legally complicated matter.<\/p>

<\/p>

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