§ 23. Mr. LAMBERTasked the Minister of Agriculture the acreage of the land for which the Ministry acts as landlord or farmer under the Small Holdings Colonies Acts; what amount was paid, including cost of improvements for the land; and what has been the aggregate profit or loss to the latest available date?
§ Mr. ELLIOTThe Ministry is not now farming any land acquired under the Small Holdings Colonies Acts. The Ministry is still landlord of five settlements, comprising 9,456 acres, so acquired, part of which is held on lease. The consideration paid for this area, including cost of improvements, was £327,919, to which must be added 1,375 perpetual annuities of £1 each and a perpetual rentcharge now standing at £18,500 per annum, against which must be set off a capital sum of £78,319 realised 1560 from the sale by the Ministry of portions of the property to which the rentcharge applies. The rent payable by the Ministry in respect of that part of the area which is held on lease is £1,616 per annum. The aggregate loss to the 31st March, 1934, on the five settlements still retained by the Ministry was £269,581 on estate account and £82,196 on farm account. This covers a period of about 15 years, and includes the sums of £206,125 and £25,691 in respect of interest on Exchequer advances for capital expenditure on estate account and farm account respectively.
§ Mr. LAMBERTDo I understand that the Ministry is no longer farming this land?
§ Mr. ELLIOTYes, Sir.
§ Mr. PALINGIs this the reason for one of the Supplementary Estimates last week; and was not a question asked of the Minister then as to whether he would issue a White Paper giving a full report on the matter?
§ Mr. ELLIOTNo, Sir. These are certain settlements of which the Ministry is landlord. It is an experiment in collective farming which the Ministry was then engaged in winding up.
§ Sir HERBERT SAMUELDo the figures which the Minister has given mean that the taxpayer has lost the whole of the £300,000?
§ Mr. ELLIOTI think the Ministry's experience as a landlord has been very similar to that of all other landlords; they have lost a great deal of money.