Formed 1786 (1786) Website www.dmo.gov.uk | Jurisdiction United Kingdom | |
Parent Statutory body UK Debt Management Office | ||
The Commissioners for the Reduction of the National Debt (CRND) is a statutory body of the UK Government, whose main function is the investment and management of government funds. The current Comptroller General is Jo Whelan.
Contents
History
The CRND was established in 1786 and was originally a non-ministerial government department. The statutory functions of CRND have been carried out within the UK Debt Management Office since July 2002.
Operations
The CRND 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), the Department for Culture, Media and Sport and the (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.