The Consolidated Fund Meaning, Definition & Usage

Definitions

1. a British fund formed by consolidating (in 1787) three public funds (the Aggregate Fund, the General Fund, and the South Sea Fund). In 1816, the larger part of the revenues of Great Britian and Ireland was assigned to what has been known as the Consolidated Fund of the United Kingdom, out of which are paid the interest of the national debt, the salaries of the civil list, etc.