HL Deb 09 May 1994 vol 554 cc79-80WA
The Countess of Mar

asked Her Majesty's Government:

What is the current balance of the Gulf Trust Fund and with which financial institutions it has been, and is now, invested.

Viscount Cranborne

The balance in the Gulf Trust Fund as at 5 April was £2,836,482. The monies in the Fund have been held by the trustee in the Charities Official Investment Fund (Charities Deposit Account).

The Countess of Mar

asked Her Majesty's Government:

Whether the long-term mental and physical health of Gulf veterans and their families constitute a "contingency" in so far as the monies donated to the Gulf Trust Fund by the public are concerned.

Viscount Cranborne

Yes. The trust deed of the Gulf Trust specifically provides for the relief of sickness, distress or any other physical or mental disability of the beneficiaries.

The Countess of Mar

asked Her Majesty's Government:

Whether bona fide civilian organisations which are dealing with the physical and mental treatment of British Gulf veterans and their families may obtain financial assistance from the Gulf Trust Fund, and if so, to whom they should apply.

Viscount Cranborne

Yes. Some charitable organisations of this type have already received assistance from the Gulf Trust. Such organisations may apply to the Service Benevolent Funds through which monies are disbursed.

The Countess of Mar

asked Her Majesty's Government:

By whom the closure of the Gulf Trust Fund, due to take place in July 1994, was authorised, and the reason why it was authorised.

Viscount Cranborne

The Gulf Trust was established to provide a focal point for donations from the public, and its trust deed provided for it to be wound up two years after it was made or such longer period as the trustee, having consulted the Secretary of State for Defence, but in its absolute discretion, determines. Under this provision the life of the trust was extended to 31 July 1994. Applications for assistance are handled by the Service Benevolent Funds working within the terms of the Gulf Trust Deed, their own trust deeds and charity law. Once the Gulf Trust is wound up remaining moneys will be passed to the Benevolent Funds where it will be ring fenced for Gulf beneficiaries until there is no reasonable prospect of further needs arising. Only £497 has been donated in the year ending 1st April 1994 and the trustee believes that it is appropriate to wind up the trust at the end of July and allow the Service Benevolent Funds to continue to provide assistance to beneficiaries as originally envisaged.