HC Deb 10 July 1828 vol 19 cc1645-6

The House resolved itself into a committee on the Military and Naval Pensions Act.

The Chancellor of the Exchequer

said, he rose to propose a resolution for the repeal of what was called the Dead Weight Act. The measure which he now proposed to repeal, had been under discussion before the Finance Committee, and the result was, that, in the opinion of that committee, the arrangement under that act should not be continued. In 1821, the great pressure on the finances of the country made the government anxious to find out any means to relieve it. It was accordingly proposed to obtain this relief, by creating an annuity which should spread the charge over a space of forty-five years. He did not wish to enter into any discussion of that arrangement; but the result of the Finance Committee's inquiries were, to recommend the repeal of the measure as being too complicated, and as introducing confusion into the accounts. He should now move, that leave be given to bring in a bill to Repeal the said act.

Mr. Hume

was glad that this mischievous act was to be repealed. If suffered to continue, the public would be losers to the extent of four millions by it. As it was, it had occasioned the loss of one million to the public; notwithstanding which the individual who introduced the measure had been since rewarded with a pension and a peerage.

Mr. Maberly

said, that a more injurious measure than this act had never passed that House. It was a downright fraud; and had entailed a heavy expense upon the country. Not one of the members of the Finance Committee had defended it.

Mr. Leycester

said, that a worse measure than that which was about to be repealed, it had never entered into the head of man to propose.

The resolution was agreed to.