Gov't Wins Transfer Of £600M Depression-Era UK Debt Fund

By Christopher Crosby (January 21, 2022, 12:50 PM GMT) -- A judge approved on Friday the government's plans to exhaust a £600 million ($814 million) charitable fund from 1928 on Britain's national debt instead of other causes, despite the "minuscule" effect it will have on the country's borrowings.

The money has sat in a trust since 1928, when the original donor deposited £500,000 in the hope that the pot would grow to pay off war debts. (iStock) High Court Judge Antony Zacaroli sanctioned a scheme by the country's Attorney General to transfer the trust, known as the National Fund, to the National Debt Commissioners to allow them to immediately pay down...

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