§ Colonel GRETTON (by Private Notice)
asked the Secretary of State for Dominion Affairs if he can state the amount of the annual payments which are disputed by the Irish Free State Government, for how many years those payments are due to be made, and the approximate value of the capital debt which they represent?
I have prepared a statement in tabular form, and, with my right hon. and gallant Friend's permission, I will circulate it in the OFFICIAL REPORT.
§ Colonel GRETTON
Cannot the House be furnished with some general informa-
250 tion, in view of the fact that we are proceeding with the Report stage of the Resolution taken in the Committee last night?
Item. Annual Payment. Number of Years to run. Approximate Capital Value. Land Purchase Annuities. £2,960,000 The Land Purchase Acts do not specify the periods of payment of the Annuities, which depend on the rates at which the Sinking Fund Payments accumulate. The average annuity would run for between 60 and 70 years from the date of the corresponding advance, which would have been made at any time between 1891 and 1923. The total amount of advances outstanding in the Irish Free State, of which these annuities are in repayment, was about £89,500,000. Against this Sinking Fund payments have accumulated to approximately £13,500,000. Excess Stock and Bonus Stock Annuity. £134,500 The period will correspond to that of the payment of the Land Annuities (see above). The annuity represents about 12 per cent. of the service of the Excess Stock and Bonus Stock (about £30,000,000) attributable to the Irish Free State. Local Loans Fund £600,000 20 years from 1926 Loans outstanding in the Irish Free State on 31st Feb., 1926, were £10,343,000. Works Annuities: (1) Telegraph Acts £15,850 (diminishing to £1,000 in 1937). Until 1942 The capital debt on 1st April, 1922, was £281,000, of which about £60,000 is still outstanding. (2) Public Offices Site (Dublin) Act, 1903. £13,200 Until 1933 The original capital advanced was £225,000, and will be completely repaid by the final payment in 1933. (3) Railways (Ireland) Act, (diminishing). 1896, and Marine Works (Ireland) Act, 1902. £6,080 (diminisbing). Until 1950 The original capital advanced was £552,000, of which £28,108 4s. 4d. is outstanding. Note.—It is not possible to give corresponding particulars of the duration of the payments in respect of Judicial, Civil and Royal Irish Constabulary pensions, which depend on the survival of the pensioners. The annual payments, which are of course diminishing, are at present £1,117,000 in respect of R.I.C. pensions and £155,000 in respect of Judicial and Civil Pensions.
The question was put as a result of the arrangement which I made with my right hon. Friend the Member for West Birmingham (Sir A. Chamberlain) yesterday. It was at the Government's desire—that is why they arranged the question—and the object was that the information should be in the possession of the House to-morrow. It is a very long document, and in the end I do not think hon. Members would be wiser till they had read it.
§ Following is the statement: