§ Mr. T. M. HEALYasked the Chancellor of the Exchequer what is the estimated total amount for Sinking Fund purposes under the various Land Purchase Acts which will come in course of payment by the purchasers during the present financial year; what is the sum available for Sinking Fund purposes in respect of each £100 issued under the Birrell Act, and at what date a loan of £100,000,000, issued in five equal annual instalments beginning in 1914, could be redeemed at par if the existing and future Sinking Fund payments, calculating the future payments on the basis of the Birrell Act, were appropriated for the redemption of that loan, assuming a yield on the Sinking Fund investments of £3 per cent., £3 5s. per cent., and £3 10s. per cent., respectively?
§ Mr. LLOYD GEORGEExcluding the Sinking Fund payments in respect of advances prior to 1891 which are payable to the Local Loans Fund, the estimated total amount receivable in the present financial year is £460,000. The Sinking Fund payable in respect of each £100 advanced under the Act of 1909 is 10s. per annum. The redemption of £100,000,000 under the conditions stated could be effected as under:—
- With investments at 3 per cent. in 1963
- With investments at 3¼ per cent. in 1961
- With investments at 3½ per cent. in 1960