18 Aug 2013

Anonymous donation stays out of reach

7:09 am on 18 August 2013

Barclays Bank in Britain says an anonymous £500,000 bequest to the country has mushroomed to £350 million since it was made 85 years ago but the Government cannot get its hands on it.

The donor left the money in 1928, saying it should be handed over only once Britain had amassed enough funds to pay off its entire national debt, which now totals £1.2 trillion.

A Barclays spokesperson says the bank, which is the trustee for the bequest, has been trying unsuccessfully to get permission through the courts either to use it to make charitable grants or hand it all to the Treasury, Reuters reports.

The bank will continue working with the Attorney-General's Office and the Charity Commission to find a solution.