§ MR. MCKENNA (Monmouthshire, N.)
To ask Mr. Chancellor of the Exchequer what is the total amount of the capital liabilities authorised to be created under the Acts named on pages 12 and 13 of the National Debt Account [Cd. 2065], 1904, but not yet created at the close of the financial year 1904–5; what is the total amount of such liabilities created and the total amount outstanding at the close of the financial year 1904–5; what is the total estimated amount of such liabilities to be created and to be redeemed during the current financial year; whether it is estimated that, from the abandonment of any part of the works authorised by the said Acts or from any other cause, the total amount of the capital liabilities created and to be created under the said Acts will be less than the total amount authorised to be created; and, if so, what is the estimate of the reduced total.
(Answered by Mr. Austen Chamberlain.) The total amount of the liabilities authorised to be created, but not yet created on the 31st of March, 1905, under the Acts referred to, including £2,600,000 authorised by the Cunard Agreement Act, was £14,513,960. The total amount of the liabilities created up to that date was £47,935,643. The liabilities which still remained outstanding at that date amounted to £41,664,382 It is provisionally estimated that further labilities may be created during the current financial year to the amount of £8,000,000. The amount provided in the current financial year for the redemption of these liabilities is £1,684,801. I am not able to give a definite Answer to the last two branches of the Question at present.