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National Debt

Volume 482: debated on Wednesday 5 November 2008

To ask the Chancellor of the Exchequer what objectives have been set by his Department for the Commissioners for the Reduction of the National Debt. (231805)

The statutory functions of the Commissioners for the Reduction of the National Debt (CRND) have been carried out within the United Kingdom Debt Management Office since July 2002. The CRND's main responsibility is the investment and management of Government funds. The Commissioners' powers and functions are laid down in the various parliamentary Acts relating to each individual fund and/or the publication of accounts.

In relation to the exercise of its fund management role, the Debt Management Office/CRND has a published an objective

“to develop and deliver its fund management responsibilities and in particular, to provide a cost-effective service for stakeholders”.