Collection

HMT central funds

This collection brings together the Consolidated Fund, the National Loans Fund, the Contingencies Fund and the Exchange Equalisation Account.

The following central funds are administered by HM Treasury which includes producing annual accounts. The maintenance and integrity of the content on this page is the responsibility of the relevant Accounting Officer; the work carried out by the auditors does not involve consideration of these matters and accordingly the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website.

Consolidated Fund

The Consolidated Fund receives the proceeds of taxation and other government receipts which fund public expenditure.

National Loans Fund

The National Loans Fund is used to account for government borrowing and lending.

Contingencies Fund

The Contingencies Fund is used to finance payments for urgent services in anticipation of Parliamentary provision, to provide funds required temporarily by government departments and to meet other temporary cash deficiencies.

Exchange Equalisation Account

The Exchange Equalisation Account (EEA) was established in 1932 to provide a fund which could be used for “checking undue fluctuations in the exchange value of sterling”. Under the consolidating Exchange Equalisation Account Act 1979, it may also be used to secure the conservation or disposition in the national interest of making payments abroad and for certain purposes arising out of the UK’s membership of the IMF including the holding, purchase and sale of Special Drawing Rights (SDRs). It holds the UK’s reserves of gold, foreign currencies and SDRs.

Published 17 September 2014
Last updated 16 September 2021 + show all updates
  1. Added: 'Consolidated Fund account 2020 to 2021' and 'National Loans Fund account 2020 to 2021'

  2. Added: 'Contingencies Fund account 2020 to 2021'

  3. Added: 'Exchange Equalisation Account: report and accounts 2020 to 2021'

  4. Updated with 'Exchange Equalisation Account: report and accounts 2019 to 2020', 'Contingencies Fund account 2019 to 2020', 'Consolidated Fund account 2019 to 2020' and 'National Loans Fund account 2019 to 2020'.

  5. 'Updated with 'Consolidated Fund account 2018 to 2019', 'National Loans Fund account 2018 to 2019' and 'Exchange Equalisation Account: report and accounts 2018 to 2019'.

  6. Updated with 'Contingencies Fund account 2018 to 2019'.

  7. Updated with Consolidated Fund account 2017 to 2018, National Loans Fund account 2017 to 2018 and Exchange Equalisation Accounts 2017 to 2018

  8. Updated with Contingencies Fund account 2017 to 2018

  9. Latest EEA added.

  10. Updated with Consolidated Fund account 2016 to 2017 and National Loans Fund account 2016 to 2017

  11. Updated with Contingencies Fund account 2016 to 2017

  12. Updated: Exchange Equalisation Accounts 2015 to 2016

  13. Updated with: Contingencies Fund account 2015 to 2016, National Loans Fund account 2015 to 2016 and Contingencies Fund account 2015 to 2016

  14. Updated to include Contingencies fund

  15. Updated with latest EEA, Consolidated fund, and NLF

  16. First published.