§ SIR THOMAS ESMONDEI beg to ask the Chief Secretary to the Lord Lieutenant of Ireland (1) at what figure does the Guarantee Fund of the Irish Land Act of 1894 now stand; (2) what interest is paid by the Treasury upon it; (3) how much of it has been spent since its formation; (4) whether it will be immediately applied as originally intended for the relief of local taxation; and (5) whether the £40,000 due to Ireland under this head will be similarly applied this year?
§ MR. GERALD BALFOURI assume that the hon. Member refers to the Reserve Fund, which, consisting of five annual instalments of the Exchequer contributions of £40,000, forms part of the cash portion of the Guarantee Fund. The required instalments were paid by the close of 1895–96, and were duly invested in Consols, which now amount (with the investment of the interest) to £219,000. The Reserve Fund has not been drawn upon. The inquiry in paragraph four appears to have been made under a misapprehension. It was not intended to apply the £200,000 in aid of local taxation. It was to remain as a reserve fund. It is hoped that the regulations for the distribution of the 735 £40,000 a year now set free will be completed at an early date, whereupon the allocation of the money will be at once proceeded with.