HC Deb 20 September 1909 vol 11 c205W
Mr. T. M. HEALY

asked the Chief Secretary whether the Estates Commissioners in any way earmark or bring to a separate account the profit made by them under Section 6 of the Land Act, 1903, in borrowing from the Treasury for the purchase of estates money at 2¾ per cent. and charging the tenants interest at 3¼ per cent.; what has been the yield of this ½ per cent. profit up to the present, and is there any reason why such profit should be pooled in the general receipts of the Estates Commissioners; and is it at the instance of the Treasury that this system of book-keeping is adopted, or have the Estates Commissioners a discretion in the matter?

Mr. BIRRELL

I have already dealt with this matter in my reply to the question asked by the hon. Member for South Kildare on 30th November last, to which I would refer the hon. Member. The Estates Commissioners inform me that the cost of management, payments for rates and taxes, and deficiency of income on some estates are met out of surpluses on other estates and so prevent losses on Guarantee Fund. Under Section 36 (4) Act of 1903 the excess surpluses of income are carried to the credit of the Reserve Fund for the benefit and improvement of estates, and for grants to evicted tenants and others for the provision of stock equipments and otherwise. The arrangements referred to were made at the instance of the Estates Commissioners, and were sanctioned by the Treasury, who (as stated in the reply to which I have referred) do not benefit.