Mr. EDGAR HORNEasked the Chancellor of the Exchequer whether, having regard to the fact that the instalments payable under the Land Purchase Acts (Ireland) in respect to loans made to purchasers include sums payable both in respect of interest and principal, a sufficient sinking fund has been set up to provide for the repayment or cancellation of the Irish Land Stock which has been issued to provide for such loans; and upon what dates such repayment or cancellation will be made?
550W
§ Mr. LLOYD GEORGEWith regard to Stock issued under the Purchase of Land (Ireland) Act, 1891, I would refer the hon. Member to the answer given by the then Financial Secretary to the Treasury to a question by the hon. Member for Great Yarmouth on the 14th August, 1911. A sufficient sinking fund has been set up in respect of the Stocks issued under the Irish Land Acts of 1903 and 1909 to redeem such Stock within the periods prescribed by those Acts. It is not, however, possible to state any precise dates for the repayment or cancellation of those Stocks or any part of them, as in accordance with the provisions of the Acts the sinking fund is allowed to be and has in fact to a considerable extent been devoted to the making of further advances under the Acts.