HC Deb 19 May 1884 vol 288 cc667-8
MR. ANDERSON

asked Mr. Chancellor of the Exchequer, Whether it be true, as stated in The Standard, that he has arranged for the commutation of the Marlborough Pension of £4,000 a-year into a payment of £107,000, and of the Penn Pension of £4,000 a-year into a payment of £67,000; and, if so, what is the reason for the price of the one being 27¾ years' purchase, and the other 16¾ years' purchase?

MR. COURTNEY

The statement is not accurate. The terms in the two cases are the same—namely, somewhat under 27 years' purchase, and as this represents a rate of interest of nearly 3¾ per cent, the transaction is a favourable one for the taxpayer.