THE CURIOUS CASE OF THE NATIONAL FUND

Martin Ellison

National Institute Economic Review, 2024, vol. 270, 64-76

Abstract: Changing attitudes to government debt influenced a recent High Court judgement on the National Fund, a British charity set up in 1928 with donations left to accumulate until they grew sufficient to repay in full the National Debt of the United Kingdom. Based on a belief that the Fund would never become large enough, the Attorney General in 2018 applied under cy-près jurisdiction to allow the charity to repay only part of the National Debt. The argument was that changing attitudes to debt have rendered the charity’s aim impracticable, even though it was at the time it was set up.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:270:y:2024:i::p:64-76_5

Access Statistics for this article

More articles in National Institute Economic Review from National Institute of Economic and Social Research Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Contact information at EDIRC.
Bibliographic data for series maintained by Kirk Stebbing ().