§ MR. WILLIAM ABRAHAM (Cork County, N.E.)To ask Mr. Chancellor of the Exchequer what are the circumstances under which the collection and remittance of Inland Revenue moneys paid by traders and others outside a radius of fifty miles from the city of Dublin, and which amount approximately to some £2,500,000 per annum, were placed in the hand of the Provincial Bank of Ireland; 1051 what are the regulations under which the business is conducted; what approximately are the weekly balances held on this head by the Provincial Bank, and for how long are the same retained; whether, so far as this branch of revenue is concerned, there is any reason why the system which has for years prevailed in Scotland of each of the large Joint Stock Banks of that country being annually in turn placed in the position of remitters of revenue, should not be adopted in Ireland; whether, under the system now prevailing in Scotland, any difficulty has arisen in the transmission of revenue to the Exchequer; and, if not, whether there is any reason why the Irish; Joint Stock Banks should not be dealt with on the same principle in relation to revenue moneys paid outside a radius of fifty miles from the city of Dublin.
(Answered by Mr. Austen Chamberlain.) The arrangement with the Provincial Bank of Ireland for the collection and remittance of Inland Revenue from places more than fifty miles from Dublin was made in 1827. At that date the Bank of Ireland and the Provincial; Bank were the only banks which had branches throughout Ireland. The terms of the arrangement with the Provincial Bank were revised in 1895. The revenue is paid daily into the various branches of the Provincial Bank and remitted by them to the Revenue Account; at the Bank of Ireland four times a month. Previous to 1895 remittances were made only once in twelve days. A similar arrangement exists with English banks in the case of certain revenue receipts in England which cannot be remitted through the agents of the Bank; of England. The object of this arrangement is to save the payment of commission to the banks for their services, The weekly balances with the Provincial Bank average about £50,000 and the money remains in the hands of the bank I for one week from the expiration of the week in which it has been received. No difficulty has arisen in Scotland in the transmission of revenue, but the present banking arrangements in Ireland have worked satisfactorily and there would be no advantage, so far as the revenue is concerned, in having the Revenue Accounts kept by a number of banks either in annual rotation or otherwise. I am not, however, satisfied that the present ar- 1052 rangement is the best possible, and I propose to look further into the matter.