HC Deb 20 March 1905 vol 143 cc463-4
MR. HENNIKER HEATON (Canterbury)

I beg to ask the Chief Secretary to the Lord-Lieutenant of Ireland whether, seeing that under the Irish Land Act of 1903 the State is pledged to find the money required to enable the agricultural tenants on properties declared to be estates within the meaning of the Act, to purchase their holdings as soon as they have come to terms with their landlords, he will say whether the Act contains any provision for delaying such purchases beyond the period necessary for deducing title; if not, by what authority, and by whose order, are the loans now stated to be limited to £5,000,000 a year; is he aware that over 10,000 tenants are waiting for completion of purchases they have agreed to make; and will steps be taken during this session to provide at least £10,000,000 more stock before † See (4) Debates, cxli., 609. Parliament rises if that amount is required by reason of the success of the Act, and having regard to the rise in the value of the stock since the last issue.

MR. WALTER LONG

My right hon. friend the Member for Dover when introducing the Irish Land Bill on March 25th, 1903, said: "I say emphatically that it will be neither financially prudent, nor administratively possible, to expand these operations at a pace so high as to make us come to the City for more than £5,000,000 a year in any one of the first three years after the passing of this Bill. It could not be done." There is no express provision in the Irish Land Act, 1903, limiting advances by the National Debt Commissioners to £5,000,000 a year from the Land Purchase Fund. But that fund is financed by the issue of Guaranteed 2¾ per cent. Stock, and Section 28, Sub-section 3, of the Act provides that "The stock may be issued at such times, in such amounts, and subject to such conditions as to payment of deposits, etc., as the Treasury may direct." It is the case that a large number of tenants are awaiting the completion of purchases which they have agreed to make. As to the latter part of the Question, I am not prepared to make any statement at present.