a British national fund created to pay grants to the royal family, interest on public debt, etc., by consolidating various public securities.
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British Dictionary definitions for consolidated fund
British a fund into which tax revenue is paid in order to meet standing charges, esp interest payments on the national debt
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012