§ Mr. Patrick Maitland
asked the President of the Board of Trade whether he will give details of the steps by which rent increases to sitting tenants of Government factories in Development Areas will, on renewal of their leases, be spread over a five-year period.
§ Sir D. Eccles
As announced to the House on 10th February the new current market value rent will, in such cases, not be paid in full until the sixth year of the new lease. This rent will be reached in equal steps and the addition to the old rent will in the first year be 16⅔ per cent. of the total increase, in the second year18W 33⅓ per cent., in the third year 50 per cent., in the fourth year 66⅔ per cent., in the fifth year 83⅓ per cent. and in the sixth year 100 per cent. of the total increase.