HC Deb 14 June 1920 vol 130 cc893-5W

Land Purchase Acts, 1881–85.

Prior to the establishment of the Local Loans Fund in 1887, capital repayments under these Acts were taken into the Exchequer, from which source the corresponding advances had been provided. Since that date the Sinking Fund receipts have been paid into, and used for the general purposes of, the Local Loans Fund.

Land Purchase Acts, 1891–96.

The accumulated sinking fund receipts to 31st March, 1920, were applied partly to the cancellation of £3,602,570 6s. 5d., 2¾ per cent. Guaranteed Land Stock, the

for further advances under the Land Purchase Acts; in the purchase of other securities, or otherwise;

(2) how much money has been advanced under all the Land Acts for the purchase of land in Ireland; how much has been repaid through the part of the annuities credited to the sinking fund, and by the tenant purchasers paying off the money due to the Land Commission; and how much now remains outstanding of all the money advanced through the Irish Land Commission or the Estates Commissioners under all the Land Purchase Acts in Ireland, that is, after giving credit for the amounts mentioned above?

Mr. HENRY

The following figures show the advances made under all the Land Purchase Acts from 1870 to 1909, and show the amount of the advances repaid, including redemptions, together with the amount outstanding on the 31st March, 1920:—

balance being represented at that date by various securities of a total nominal amount of £1,162,454 11s. 5d., these including £378,351 8s. 10d., Guaranteed 2¾ per cent. Stock, and ¾18,238 5s. 2d., 2¾ per cent. Guaranteed Land Stock.

Irish Land Acts, 1903 and 1909.

The accumulated sinking fund receipts to 31st March, 1920, were applied partly to the cancellation of £1,181,805 2s. 5d. (£994,645 16s. 1d.), Guaranteed 2¾ per cent. Stock, and £125,699 19s. (£107,802 6s. 1d.), Guaranteed 3 per cent. Stock, as to £4,856,800 (£3,715,750), in financing further advances under the Acts, and as to the balance, in the purchase of £4,259 6s. (£4,234 17s. 6d.), Guaranteed 2¾ per cent. Stock, and £51,468 10s. 3d. (£3,450 3s. 9d.), Guaranteed 3 per cent. Stock, which, with £248 0s. 4d. (£109 2s. 7d.) cash, were held for the sinking fund accounts at that date.

The larger amount stated in each case includes the results of the application or accumulation of the sinking fund in respect of Excess Stock and of Stock issued to finance the Land Purchase Aid Fund, provision for which is derived otherwise than from tenant-purchasers' repayments, the figures given in brackets relating solely to the sinking fund payments made by tenant-purchasers (Advances Account)—

  1. (a) including amounts "written off" the assets of the local loans fund as irrecoverable;
  2. (b) including £502,797 16s. 2d., advanced to the Congested Districts Board under Section 43 of the Act of 1896, for the purchase of estates, all of which has been repaid on the re-sale of those estates to tenants thereof;
  3. (c) including £4,609,131 advanced for the purposes of the Labourers (Ireland) Acts from the Land Purchase Fund;
  4. (d) including enhanced price on resale.