HC Deb 01 July 1913 vol 54 cc1678-9W

asked the Chancellor of the Exchequer at what different times and in what several amounts have moneys been paid by the Treasury to the credit of the Development Fund and the Road Improvement Fund, respectively; whether the Treasury contributions to the former fund will, under Section 2 (2) of the Development and Road Improvement Funds Act, 1909, cease at the end of the current financial year, and what amount, if any, remains still to be credited to such fund in the meantime?


Issues from the Exchequer have been and are made as follows:—

Development Fund.
Issues from the Consolidated Fund.
Under Section 2 (2) of 9 Edw. VII., c. 47 (Development and Road Improvement Funds Act).—Year 1910–11:—
£ £
On 7th July, 1910 5,000
On 27th March, 1911 495,000
Year 1911–12:—
On 27th March, 1912 500,000
Under Section 16 (1) (a) of Finance Act, 1911 (1 & 2 Geo. 5., c. 48), part of Old Sinking Fund, 1910–11.—Year 1912–13:—
On 3rd June, 1912 1,500,000
From Vote of Parliament.
Year 1910–11:—
On 22nd March, 1911 400,000

Payments to the Road Improvement Fund are made monthly. The payment in each month represents, approximately, the net proceeds of the duties collected in the preceding month. As regards the latter part of the question, I would point out that the issue under Section 16 (1) (a) of the Finance Act, 1911, which was made in full on 3rd June, 1912, was in lieu of the issues remaining to be made under Section 2 (2) of the Development and Road Improvement Funds Act, 1909, and that consequently there is now no balance due from the Exchequer to the Development Fund.