Thanks to Fergus Burnett of the Civil Society for the Headline.
Ah perhaps that’s why Rachel Reeves has had a bit of a breather, my she and the Treasury must feel that their boat has come in. I wonder what Boris Johnson would have done with the money.
The “National Fund” was set up a 100 years ago to pay off the “National Debt” incurred during the First World War. The fund was started by a banker Gaspard Farrer with the amount of £500,000. The fund received other donations from other philanthropists , but has received no new donations since 1985.
There was a court case in 2023 to see if the now £600million fund could be given to existing Charities in the UK, but the Courts have now decided that the money should go to the Treasury and will be used to write of a £670 million gilt.
So there you go , Gaspard Farrer wishes have been followed and the Charity will be wound up and MP’s will still be hiving off expenses and giving their friends Government Contracts and using everyone else’s money for their own purposes. They don’t miss a trick , do they?
Nevertheless , the money was supposed to be used for the National Debt and we have got plenty of that. The Charity itself is being wound down , I wonder though who was living off the interest of all that money, no doubt the Charity had expenses?
Namaste and Thank You for Reading.🙏
thenotsomightyom 