§ Mr. ALAN HERBERTasked the Minister of Agriculture what rateable value was assumed for tithe rentcharge in calculating the compensation payable to the rating authorities for the diminution of their income owing to the derating of tithe?
§ Sir K. WOODI have been asked to reply. At the beginning of 1935–36 the rateable value of tithe rentcharges in England and Wales was approximately 1,960,000. Under the Sixth Schedule to the Tithe Bill the rate income of rating authorities from tithe rentcharges in that year forms the basis of the compensation payable to them in respect of the loss of rate income on account of the extinguishment of tithe rentcharge as a rateable hereditament.
§ Mr. ALAN HERBERTasked the Minister of Agriculture what proportion of the annuity of £91 11s. 2d. payable by a payer of tithe rentcharge on agricultural land under the Tithe Bill represents the Sinking Fund?
§ Mr. ELLIOTNo portion of a redemption annuity is specifically allocated to Sinking Fund. If my hon. Friend will refer to page 6 of the White Paper, Cmd. 5102, issued in February last, he will see that the redemption annuities are carried to the scheme as receipts, and with the Exchequer contribution go to meet all the expenses of the scheme, namely, the interest on stock, payments to rating authorities and church authorities, and the costs of collection and administration as well as Sinking Fund.