National Fund

Attorney General written question – answered on 5th November 2018.

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Photo of Gregory Campbell Gregory Campbell Shadow DUP Spokesperson (International Development), Shadow DUP Spokesperson (Cabinet Office)

To ask the Attorney General, pursuant to the Answer of 23rd July 2018 to Question 165033 on the National Fund, whether he has received a hearing date from the High Court on his application to release the money held by the National Fund.

Photo of Robert Buckland Robert Buckland The Solicitor-General

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. On 22nd May 2018 the former Attorney General made an application to the High Court to vary the terms of the charitable trust.

While we expect the substantive hearing to take place in 2019, we have not yet received a hearing date from the High Court.

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