Funding

The costs of the Board’s services are met from the General Lighthouse Fund (GLF). The income to the GLF comes mostly from light dues which are charged on commercial shipping at United Kingdom and Republic of Ireland ports. There is no provision for Exchequer funding except in the Republic of Ireland and in relation to guarantees under the GLAs’ borrowing powers. A Letter of Comfort relating to pension liabilities has been provided. The Secretary of State for Transport has a duty to ensure the effective management of the GLF and enable the adequate provision of aids to navigation at the minimum cost.

Light dues are levied on vessels (other than tugs, fishing vessels and pleasure vessels subject to periodical charges) when they enter UK and Republic of Ireland ports, and are paid into the General  Lighthouse Fund. Non-periodical Light Dues are currently charged at a rate of 39p per net registered ton (nrt) (up to a maximum of £13,650: the tonnage cap of 35,000 nrt), for up to 9 voyages per year. Above these caps (35,000 nrt and 9 voyages) vessels do not pay any further Light Dues payments. The net registered tonnage of a ship is a calculation of the volume of all cargo spaces of the ship. It indicates a vessel’s earning space.

GLF income to meet anticipated expenditure by the GLAs includes both light dues payments and returns from investments. The fund also needs to maintain a minimum reserve level to cover items such as staff pension contributions and working capital. 

NLB Report and Accounts 2009

NLB Report and Accounts 2008

NLB Report and Accounts 2007