§ MR. KEAY (Elgin and Nairn)I beg to ask the Chancellor of the Exchequer what, in round numbers, will be the estimated capital value of the Sinking Fund created by the Purchase of Land and Congested Districts (Ireland) Bill on the 40th year of its operation if the full powers of lending, under Clause 6 (2), and re-lending under Clause 6 (3), are at once exercised, and if all the payments into the Sinking Fund under Clause 1 (2) are duly made, and the whole accumulated as provided by Clause 7 (4) but leaving out of account the uncertain elements of further increase to the fund, such as payments to it for redemption of Purchase Annuities and for purchaser's insurance money; what will be the estimated income of the Guarantee Fund for that year; what will be the estimated total of the Four per Cent. Purchase Annuities due to the Treasury from all the tenant purchasers, for the same year, if none have been redeemed; and does Her Majesty's Government intend that the Guarantee Fund shall provide for the payment of the whole of the Purchase Annuities if default is committed, or only of a part thereof; and if the latter, from what source is the remainder to be recovered by the Treasury?
§ MR. GOSCHENA Return is being prepared and will shortly be in the hands of hon. Members, which will substantially give an answer to the first three questions of the hon. Member. If he is not able to construct an answer for himself out of the Return, perhaps he will put a further question to me on the subject. With regard to the fourth paragraph, it is the intention of Her Majesty's Government that the Guarantee Fund shall provide for the payment of the whole of the Purchase Annuities if default is committed.
§ MR. GOSCHENIt is being printed, and will be in the hands of hon. Members in a few days.