Civil List (Hansard, 10 December 1992)

Mr. Alan Williams
To ask the Prime Minister what is the time-lag between the annual payments into the civil list and the reinvestment of specified annuities to the Consolidated Fund.

§ The Prime Minister
If the right hon. Member is referring to Her Majesty's reimbursement of the Consolidated Fund for the section 3 annuities, refunds are normally made each November, for payments made during the course of the calendar year. The timing follows that of the first voluntary reimbursement by Her Majesty in November 1975.

Mr. Alan Williams
To ask the Prime Minister if interest on the early-years surpluses on the civil list under the current 10-year agreement is retained within the civil list.

§ The Prime Minister
Yes. Any surplus at the end of the 10-year period would be carried forward and taken account of in the settlement for the next period.

Mr. Alan Williams
To ask the Prime Minister what investments the royal trustees consider appropriate for the early-year surpluses on the civil list.

§ The Prime Minister
The surpluses are prudently invested in the United Kingdom from within a range approved by the royal trustees.