§ (1) There shall be an Irish Exchequer and an Irish Consolidated Fund separate from those of the United Kingdom.
§ (2) The proceeds of all taxes levied in Ireland, whether under the authority of the Parliament of the United Kingdom or of the Irish Parliament, shall be paid into the Exchequer of the United Kingdom, but subject as hereinafter provided, there shall "be charged on and paid out of the Consolidated Fund of the United Kingdom or the 1156 growing produce thereof in each year to the Irish Exchequer a sum (in this Act referred to as "the Transferred Sum") consisting of—
- (a) such sum as may be determined by the Joint Exchequer Board established under this Act (hereinafter referred to as the Joint Exchequer Board) to represent the net cost to the Exchequer of the United Kingdom at the time of the passing of this Act of Irish services; and
- (b) a sum of £500,000, diminishing in each year after the third year of payment by the sum of £50,000 until it is reduced to the sum of £200,000; and
- (c) a sum equal to the proceeds as deter-mined by the Joint Exchequer Board of any Irish taxes imposed in Ireland by the Irish Parliament under the powers given to them by this Act.
§ (3) Provision shall be made by the Irish Parliament for the cost of Irish services within the meaning of this Act, and any charge on the Consolidated Fund of the United Kingdom for those services, including any charge for the benefit of the Local Taxation (Ireland) Account, or any Grant or contribution out of moneys provided by the Parliament of the United Kingdom so far as made for those services shall cease, and money for loans in Ireland shall cease to be advanced either by the Public Works Loans Commissioners or out of the Local Loans Fund.
§ Government Amendment made: In Subsection (3), after the word "and"["meaning of this Act and"], insert the words "except as provided by this Act."
§ Ordered, that the further consideration of the Bill, as amended, be now adjourned.—[Mr. Gulland.]
§ Bill, as amended, to be further considered To-morrow (Wednesday).
§ The Orders for the remaining Government business were read and postponed.
§ Whereupon Mr. SPEAKER, pursuant to the Order of the House of 14th October, proposed the Question, "That this House do now adjourn."
§ Question put, and agreed to.
§ Adjourned accordingly at Eighteen minutes after Eleven o'clock.