HC Deb 01 May 1885 vol 297 cc1317-8
MR. O'SULLIVAN

asked the Financial Secretary to the Treasury, If he is aware that the different Boards of Guardians in Ireland who have borrowed money from the Treasury for the purpose of building cottages under the Labourers' (Ireland) Act, are still debited in their bonds with the annual sum of five pounds seven shillings and two pence for every hundred pounds for a term of thirty-five years, notwithstanding the assurance given in March last that the Treasury had reduced the repayments of these loans to four pounds sixteen shillings and two pence per annum for every hundred pounds for the term above stated; and, if so, what steps he will take to get these loans brought under the amended terms?

MR. HIBBERT

As I informed the hon. Member on the 4th of March last, the promised reduction in the rate of interest was conditional on the passing of the amending Bill of the Government. The Treasury would not be justified in risking the longer term and lower rate of interest except upon the improved arrangements proposed in that Bill. If the hon. Member wishes to obtain early advantage of the reduction, I should recommend him to use his influence with the three hon. Members opposite me who have blocked the Bill. As the Bill is the result of the labours of a Select Committee of the House, I would appeal to those hon. Members to withdraw their block.

MR. O'SULLIVAN

Will the Bill be retrospective?

MR. HIBBERT

No.

MR. T. P. O'CONNOR

If the blocks are removed, will the Government press on the Bill?

MR. HIBBERT

I think so. I am told so.

MR. T. P. O'CONNOR

said, he wished to asked the Leader of the Opposition, in reference to the statement of the Secretary to the Treasury that the Government were precluded from pressing the Labourers' Bill owing to the action of three hon. Members of the Conservative Party, whether the right hon. Gentleman would use his influence with these three hon. Members to cease their opposition to the Bill, which was founded on the Report of a Select Committee that included Conservative Members?

SIR STAFFORD NORTHCOTE

I have no knowledge of the matter.