HC Deb 30 April 1891 vol 352 c1769
MR. MAHONY

I beg to ask the Secretary to the Treasury whether he can state, as regards loans to owners of land in Ireland under a notice from the Office of Public Works, Dublin, dated 12th January, 1880, in which the annual instalments are fixed at £3 8s. 6d. per cent. for 35 years, how much of the instalment is carried annually to the Sinking Fund, and at what rate of interest the Sinking Fund is calculated?

MR. JACKSON

I understand that the rate of interest charged is £1 percent. per annum on the amount outstanding. The balance is carried to the Sinking Fund.

MR. MAHONY

Does the amount carried to the Sinking Fund vary each year.

MR. JACKSON

The interest is always at the same rate. For each £100 advanced, there is an annual payment of £3 8s. 6d. for 35 years.