§ Mr. KELLYasked the Chancellor of the Exchequer whether annuities repayable under the Irish Land Acts can at present be redeemed only at the rates fixed when the Government could get loans at 2½ per cent, or less; will he now give borrowers an opportunity of redeeming their loans at the current rate; and has he considered that this course would result in a large-addition to the Exchequer, as Irish farmers and others would largely avail themselves of the opportunity if it were offered?
§ Mr. BONAR LAWThe Annuities payable under the Irish Land Acts 1903–1909 can be redeemed by payment of the present price of the Land Stock outstanding in respect of the Advance. The tenant purchaser can thus secure the advantage of the current rates. I may refer the hon. Member to Rule 19 of the Irish Land (Finance) Rules, 1912.