National Loans Fund

35.7The National Loans Fund was established by the National Loans Act 1968, which transferred to that Fund almost all government lending to nationalised industries and other bodies in the United Kingdom which had hitherto been financed by advances out of the Consolidated Fund. These provisions of the National Loans Bill were themselves authorised by financial resolutions. Any provision for new government lending to nationalised industries, the devolved administrations or other bodies beyond existing authorised limits similarly requires authorisation by Money resolution.1 Loan capital for Government Trading Funds may be provided either out of the National Loans Fund or out of money provided by Parliament, and in either case is subject to an overall limit authorised by Money resolution.2

Footnotes

  1. 1. For example, Scotland Bill (2015–16), Votes and Proceedings, 23 March 2016.
  2. 2. Government Trading Funds Act 1973 (as amended); CJ (1989–90) 90. For the grant of borrowing powers to the Crown itself, see para 36.15.