Asked by: Norman Baker (Liberal Democrat - Lewes)
Question to the Attorney General:
To ask the Attorney General, what his policy is on the future of the National Fund; whether he has considered the early application of the Fund to reduce the national debt; what other options for the future of the Fund he has considered and (a) dismissed and (b) kept under consideration; and what donations have been made to the Fund in each of the last 30 years.
Answered by Robert Buckland
There has been correspondence between the Charity Commission, the trustees and the Attorney General’s Office over the National Fund.
The Fund is operated in accordance with its rules and section 9 of the Superannuation and Other Trust Funds (Validation) Act 1927. It is accumulating as the original donors intended.
Options are being considered for the future of the Fund, consistent with its object of extinguishing or reducing the national debt. These include a possible application to the court for directions. The consideration of these options includes looking at the history of donations to the Fund. Whilst this work is on-going, it would not be appropriate to comment further.