HC Deb 01 August 1898 vol 63 cc770-1

(Second Reading.)

MR. CALDWELL

I desire to call the attention of the Treasury to the fact that taking these funds together does not give a correct idea as to how much will be actually paid, or written off the original loan. The amount previously written off and the amount repaid, of course, you are taking the two ton-ether. Another point to which I wish to call attention is that on that Committee I see you have put the amount. You give the details and the name. Now, there is no particular reason for doing that, and it has nothing to do with the Act of Parliament. I think, when we come to the Committee stage, it might be put into the schedule in that way. I notice that in the time of repayment, that is, the number of years, you are taking power to amend the Public Works Towns Bill of 1875, and I think that is a very serious change. According to this proposal you axe extending the period of repayment from 20 to 30 years. I think that is a very great change, and perhaps the Secretary to the Treasury will give us some explanation why he is changing the period from 20 years to 30 years. It is a very considerable change, because the interest on the money is getting less every year, and less will be required for the loans, proposed than was required 80 years ago, when that Act was passed. These are the only observations I think it advisable to make on the Second Reading, because, in the Committee stage, the Secretary to the Treasury might be prepared to deal with the points I have mentioned.

Question put— That the Bill be now read a second time.

Agreed to.