§ Sir E. CORNWALLasked the Secretary to the Treasury if he will state the total amount of funds now standing to the credit of the Road Board; what present use is being made of them; and whether any definite policy is under consideration for dealing with these funds after the War?
Mr. McKINNON WOODThe total amount of funds (including investments at cost) standing to the credit of the Road Board on the 31st October was £3,763,569. New advances from the fund have been restricted to a limited sum (£200,000 in 1916-17) which is applied to the surface preservation of important roads. The available funds in the hands of the Board are invested, largely in short-term Government securities. After the War the funds of the Board (of which a considerable sum has already been promised to local authorities) would be applied in the manner provided by the Development and Road Improvement Fund Act, 1909, in the absence of amending legislation; but the rate of expenditure would no doubt depend on the state of employment and on other conditions which cannot at present be foreseen.
§ Mr. FARRELLasked the Chief Secretary for Ireland when it is proposed to make further grants or loans to county councils from the Road Board funds; whether he is aware that the county Longford steam rolling plant is practically hung up for want of funds to complete the steam-rolling of the county; and whether, if loans are applied for to do this work, they will now be granted?
Mr. McKINNON WOODI would refer the hon. Member to the answer which I have to-day given to the hon. Member for Bethnal Green, from which it will be seen that new advances are limited to surface preservation of roads in certain special cases.