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English definition of “slush fund”

slush fund

noun [C]
 
 
FINANCE
money that is kept by a business or other organization for illegal purposes: The CEO treated this money as his own personal slush fund and used it to evade taxes. He was convicted of setting up a secret slush fund to bribe politicians.
informal money that is kept for unexpected costs: We have set up a small slush fund to cover any unexpected running costs.
(Definition of slush fund from the Cambridge Business English Dictionary © Cambridge University Press)
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