Consolidated fund
Functional Standards Common Glossary, published by the Cabinet Office, states: ‘The consolidated fund (CF), operated by HM Treasury, is central government’s current account into which most revenue from taxation, fines and penalties and certain departmental income is paid. Payments made out of this account are in respect of general government expenditure, which includes funding for department’s budgetary Supply Estimates approved by Parliament and settlement of specific liabilities that legislation charges directly on the Consolidated Fund.’
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