Commissioners for the Reduction of the National Debt
Encyclopedia
The Commissioners for the Reduction of the National Debt (CRND), is a non-ministerial department of the UK Government, established in 1786, which manages the investment portfolios of a number of government and public bodies including HM Revenue & Customs (National Insurance Fund
), National Savings and Investments
(National Savings Bank
Fund), Her Majesty's Courts Service
(Court Funds Investment Account) and the Department for Culture, Media and Sport
(National Lottery
Distribution Fund). It also manages some residual operations relating to the National Debt including donations and bequests and the 3.5 per cent Conversion Loan Sinking Fund
.
The current Comptroller General
is Jo Whelan.
The statutory functions of CRND are carried out within the UK Debt Management Office
.
Today, CRND's main function is the investment and management of government funds.
National Insurance Fund
The National Insurance Fund represents the funds of the National Insurance Scheme, set up by the British Government following World War II. In the Beveridge Report this was designed as part of a universal insurance system for all British people....
), National Savings and Investments
National Savings and Investments
National Savings and Investments , formerly called the Post Office Savings Bank and National Savings, is a state-owned savings bank in the United Kingdom. It is an executive agency of the Chancellor of the Exchequer...
(National Savings Bank
National Savings Bank
National Savings Bank may refer to;*National Savings and Investments of the United Kingdom which was formerly known as the Post Office Savings Bank and National Savings.*National Savings Bank is a state owned savings bank....
Fund), Her Majesty's Courts Service
Her Majesty's Courts Service
Her Majesty's Courts Service is an executive agency of the Ministry of Justice and is responsible for the administration of the civil, family and criminal courts in England and Wales....
(Court Funds Investment Account) and the Department for Culture, Media and Sport
Department for Culture, Media and Sport
The Department for Culture, Media and Sport is a department of the United Kingdom government, with responsibility for culture and sport in England, and some aspects of the media throughout the whole UK, such as broadcasting and internet....
(National Lottery
National Lottery (United Kingdom)
The National Lottery is the state-franchised national lottery in the United Kingdom and the Isle of Man.It is operated by Camelot Group, to whom the licence was granted in 1994, 2001 and again in 2007. The lottery is regulated by the National Lottery Commission, and was established by the then...
Distribution Fund). It also manages some residual operations relating to the National Debt including donations and bequests and the 3.5 per cent Conversion Loan Sinking Fund
Sinking fund
A sinking fund is a fund established by a government agency or business for the purpose of reducing debt by repaying or purchasing outstanding loans and securities held against the entity. It helps keep the borrower liquid so it can repay the bondholder....
.
The current Comptroller General
Comptroller General
Comptroller General or Comptroller-General or Controller General may refer to:* the Comptroller General of the United States, director of the Government Accountability Office* Comptroller General of Convicts...
is Jo Whelan.
The statutory functions of CRND are carried out within the UK Debt Management Office
UK Debt Management Office
The UK Debt Management Office , was established on 1 April 1998. The DMO is responsible for carrying out the Government's debt management policy of minimising financing costs over the long term, taking account of risk, and managing the aggregate cash needs of the Exchequer in the most...
.
Today, CRND's main function is the investment and management of government funds.