HC Deb 30 March 1903 vol 120 cc580-2
MR. LAMBERT (Devonshire, South Molton)

I beg to ask the Chief Secretary to the Lord Lieutenant of Ireland if he will state the maximum and minimum number of years purchase, including bonus, that an Irish landowner may receive on the first term rent and second term rent respectively under the provisions of the Irish Land Bill.

* MR. WYNDHAM

This question is of such importance, and a bare reply to it is so liable to misconception, that I must ask to preface my reply by two observations. (1) The total purchase price consists of two portions—viz, (a) the total amount advanced in respect of the several purchase annuities and perpetual rent-charges which the purchasers individually agree to pay, and (b) the percentage from the Aid Fund Grant, which is calculated on that total amount by an inverse graduation, (2) Of that total purchase price a portion, including the percentage, goes absolutely to the vendor, the remainder is paid to him after other interests and claims have been met. With that explanation the answer is: First-term rent of £100: (a) maximum £2,894.55, nearly twenty-nine years; (b) minimum £1,982.40, nearly twenty years. Second-term rent of £100: (c) maximum £3,256.8, about thirty-two and a half years; (d) minimum £2,313.15, just over twenty-three years.

MR. LAMBERT

asked if the bonus was included.

* MR. WYNDHAM

Yes. I have stated that the purchase consists of two portions, that which comes from the tenants and that which is the percentage amount of the Aid Grant Fund. The figures I have given are the result of the two added together.

MR. EMMOTT

That is the bonus calculated at the highest rate?

* MR. WYNDHAM

Certainly. But it would be more proper to say the amount arrived at in respect of the instalments paid by the tenants and the bonus.

MR. JOHN REDMOND (Waterford)

The right hon. Gentleman said as to distribution of purchase price that one portion of it goes to the vendor and the rest is distributed according to claims. The portion which goes to the vendor is the amount of arrears to the extent of one year?

* MR. WYNDHAM

Yes, and the bonus.

MR. LAMBERT

I beg to ask the Chief Secretary to the Lord Lieutenant of Ireland whether in fixing rents in Ireland the Commissioners estimate the value of the tenant's interest; and, if so, can he state approximately what proportion the tenant's interest bears to the total value of the holding.

* MR. WYNDHAM

The Commissioners fix rents in accordance with the provisions of a complicated schedule, of which I will send a copy to the hon. Member. It is not possible to answer the second inquiry. Lord Templetown's Return (House of Lords Paper No. 193 of 1901) gives the nearest approximate information.

MR. LAMBERT

Is that Return available for Members of the House?

* MR. WYNDHAM

Yes, Sir.