§ MR. FLAVIN (Kerry, N.)To ask the Chief Secretary to the Lord-Lieutenant of Ireland whether, in view of the fact that a tenant has the power, under the Purchase Act of 1891, of extending the period of repayment of annuities from the shorter to the longer number of years and thereby get the benefit of decadal reductions, he can state what the amount of the annuity payable by a tenant would be, and for how many years, who purchased a £20 rental at eighteen years purchase without decadal reductions under the Purchase Act of 1891; and whether he can state, in the case of the same tenant who purchased a £20 rental at eighteen years under the 1891 Act with decadal reductions, what number of years his annuity would have to run, and what would be the amount of his annuity for each of the periods over which he is entitled to get the benefits of the decadal reductions, and what would be the amount of his total payments and his average annual payments under the extended period of repayment, with decadal reductions.
(Answered by Mr. Wyndham.) The following table gives the information desired. Acts 1891–1896. Rent £20, eighteen years purchase, purchase money £360. Annuity £14 8s. which would repay advance in forty-two and a half years without decadal reductions. Total amount paid in forty-two and a half years £612.† With decadal reductions—Annuity payable for first ten years, £14: 8s.; second ten years £12 6s. l0d.; third ten years £10 11s. 6d.; final period forty-two and a half years £9 1s. 6d. Total payments—first ten years £141; second ten years £123 8s. 4d.; third ten years £105 15s.; Final period forty-two and a half years £385 13s. 9d.; Total paid in seventy-two and a half years £758 17s. 1d.† Average annual payment for term of seventy-two and a half years £10 9s. 6d.
†Includes sinking fund and interest.