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The National Fund
The National Fund is a British charity whose purpose is to pay off the United Kingdom national debt in full. The value of the fund stood at £519,707,831 on 5 April 2019, an increase of £20.9 million on the year before. The fund was set up in 1928 with a £500,000 anonymous donation. In 2019 the Government confirmed that it "does not hold information about the identity of the donor who set up the Fund." It has been suggested that the donor pledged the money as a response to a 1919 ''Financial Times'' editorial by then-Financial Secretary to the Treasury Stanley Baldwin, which suggested patriotic rich citizens voluntarily contribute towards paying the debt accumulated from World War I. In 2020 it was revealed in court documents that the anonymous benefactor who had bequeathed the original endowment was Gaspard Farrer, a former partner at the now-defunct Barings Bank. The value of the fund has risen steadily in recent years, having been £69,300,504 on 31 March 1989. On 22 May 2018 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom National Debt
The United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies. At the end of December 2021, UK General government gross debt was £2,382.8 billion, or 102.8% of Gross domestic product, the second lowest in the G7 while 14.6% above the average of the EU member states at that time. Approximately a third of the UK National Debt is owned by the British government due to the Bank of England's quantitative easing programme, so approximately a third of the cost of servicing the debt is paid by the government to itself. In 2018, this reduced the annual servicing cost to approximately £30 billion (approx 2% of GDP, approx 5% of UK government tax income). In 2017, due to the Government's budget deficit ( PSNCR), the national debt increased by £46 billion. The Cameron–Clegg coalition government in 2010 planned that they would eliminate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson sold the publication to Nikkei for £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. The newspaper has a prominent focus on financial journalism and economic analysis over generalist reporting, drawing both criticism and acclaim. The daily sponsors an annual book award and publishes a " Person of the Year" feature. The paper was founded in January 1888 as the ''London Financial Guide'' before rebranding a month later as the ''Financial Times''. It was first circulated around metropolitan London by James Sherid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Secretary To The Treasury
The financial secretary to the Treasury is a mid-level ministerial post in HM Treasury, His Majesty's Treasury. It is nominally the fifth most significant ministerial role within the Treasury after the First Lord of the Treasury, first lord of the Treasury, the chancellor of the Exchequer, the Chief Secretary to the Treasury, chief secretary to the Treasury, and the Paymaster General, paymaster general. However, the role of First Lord of the Treasury is always held by the prime minister who is not a Treasury minister, and the position of Paymaster General is a sinecure often held by the Minister for the Cabinet Office to allow the holder of that office to draw a government salary. In practice it is, therefore, the third most senior Treasury minister and has attended Cabinet (government), Cabinet in the past. The incumbent as of October 2022 is Victoria Atkins. The position is shadowed by the Shadow Financial Secretary to the Treasury, shadow financial secretary to the treasury. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanley Baldwin
Stanley Baldwin, 1st Earl Baldwin of Bewdley, (3 August 186714 December 1947) was a British Conservative Party politician who dominated the government of the United Kingdom between the world wars, serving as prime minister on three occasions, from May 1923 to January 1924, from November 1924 to June 1929, and from June 1935 to May 1937. Born to a prosperous family in Bewdley, Worcestershire, Baldwin was educated at Hawtreys, Harrow School and Trinity College, Cambridge. He joined the family iron and steel making business and entered the House of Commons in 1908 as the member for Bewdley, succeeding his father Alfred. He served as Financial Secretary to the Treasury (1917–1921) and President of the Board of Trade (1921–1922) in the coalition ministry of David Lloyd George and then rose rapidly: in 1922, Baldwin was one of the prime movers in the withdrawal of Conservative support from Lloyd George; he subsequently became Chancellor of the Exchequer in Bonar Law's Conserva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barings Bank
Barings Bank was a British merchant bank based in London, and one of England's List of oldest banks in continuous operation, oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative. It was founded in 1762 by Sir Francis Baring, 1st Baronet, Francis Baring, a British-born member of the German-British Baring family of merchants and bankers. The bank collapsed in 1995 after suffering losses of £827 million (£ billion in ) resulting from fraudulent investments, primarily in futures contracts, conducted by its employee Nick Leeson, working at its office in Singapore. History 1762–1889 Barings Bank was founded in 1762 as the John and Francis Baring Company by Sir Francis Baring, 1st Baronet, with his older brother John Baring (1730–1816), John Baring as a mostly silent partner. They were sons of Johann Baring, John (né Johann) Baring, wool trader of Exeter, born in Bremen, Germany. The company started business in offices off Cheapsid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dianne Hayter
Dianne Hayter, Baroness Hayter of Kentish Town (born 7 September 1949) is a British politician serving as a Member of the House of Lords since 2010. A member of the Labour and Co-operative Party, she was Shadow Deputy Leader of the House of Lords from 2017 to 2021. Hayter represented Socialist Societies on the National Executive Committee of the Labour Party from 1998 to 2010, chairing the committee from 2007 to 2008. She served in numerous opposition front bench roles in the Lords from 2011 until 2021, when she became Chair of the International Agreements Committee. Early life She is the daughter of Flt Lt Alec Bristow Hayter (died 1972), and Nancy Evans (died 1959). Educated at Trevelyan College, Durham University, where she studied Social and Public Administration (BA), she gained a doctorate at London University in 2004. Professional career Hayter was a Director of Alcohol Concern from 1984 to 1990, and Director of Corporate Affairs for the Wellcome Trust from 1996 to 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Keen, Baron Keen Of Elie
Richard Sanderson Keen, Baron Keen of Elie (born 29 March 1954) is a British lawyer and Conservative Party politician. He was Advocate General for Scotland from May 2015 until his resignation on 16 September 2020. Early life Keen was educated at The King's School, Rochester and Dollar Academy, and graduated LLB (with Honours) in law from the University of Edinburgh in 1976, where he was a Beckman scholar. He was admitted to the Faculty of Advocates in 1980 and took silk (QC) in 1993. He was admitted to the Bar of England and Wales in 2009 and elected a Bencher of the Middle Temple in 2011. Legal career Keen served as standing junior counsel in Scotland to the Department of Trade and Industry from 1986–93. He specialises in commercial law, property law and administrative law. He is also a member of Blackstone Chambers in Middle Temple, London. He defended Al Amin Khalifa Fhimah at the Pan Am Flight 103 bombing trial, with Fhimah being acquitted of all charges. In 2007, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified in an outbreak in the Chinese city of Wuhan in December 2019. Attempts to contain it there failed, allowing the virus to spread to other areas of Asia and later worldwide. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern on 30 January 2020, and a pandemic on 11 March 2020. As of , the pandemic had caused more than cases and confirmed deaths, making it one of the deadliest in history. COVID-19 symptoms range from undetectable to deadly, but most commonly include fever, dry cough, and fatigue. Severe illness is more likely in elderly patients and those with certain underlying medical conditions. COVID-19 transmits when people breathe in air contaminated by droplets and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Court Of Justice
The High Court of Justice in London, known properly as His Majesty's High Court of Justice in England, together with the Court of Appeal of England and Wales, Court of Appeal and the Crown Court, are the Courts of England and Wales, Senior Courts of England and Wales. Its name is abbreviated as EWHC (England and Wales High Court) for legal citation purposes. The High Court deals at Court of first instance, first instance with all high value and high importance Civil law (common law), civil law (non-criminal law, criminal) cases; it also has a supervisory jurisdiction over all subordinate courts and tribunals, with a few statutory exceptions, though there are debates as to whether these exceptions are effective. The High Court consists of three divisions: the King's Bench Division, the #Chancery Division, Chancery Division and the #Family Division, Family Division. Their jurisdictions overlap in some cases, and cases started in one division may be transferred by court order to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trustee
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility to transfer the title of ownership to the person named as the new owner, in a trust instrument, called a beneficiary. A trustee can also be a person who is allowed to do certain tasks but not able to gain income, although that is untrue.''Black's Law Dictionary, Fifth Edition'' (1979), p. 1357, . Although in the strictest sense of the term a trustee is the holder of property on behalf of a beneficiary, the more expansive sense encompasses persons who serve, for example, on the board of trustees of an institution that operates for a charity, for the benefit of the general public, or a person in the local government. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non-charitable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
