Consolidated fund

Consolidated fund,

Definition of Consolidated fund:

  1. The account held by the Exchequer of the British government at the Bank of England into which public monies (such as tax receipts) are paid and from which major payments are made, other than those dependent on periodic parliamentary approval.

  2. Treasurys current account with the central bank through with all or almost all of a governments expenditures and receipts pass.

Meaning of Consolidated fund & Consolidated fund Definition