§ Mr. Wakehamasked the Chancellor of the Exchequer what has been the approximate amount of annuities paid under the Tithe Redemption Act 1936 for the last three years; what is the amount of funds in the account available to service existing redemption stocks; what is the estimated eventual cost of redemption; what are the estimated administrative costs of the present scheme; and what is the amount of the payment due in October 1976 and the final payment planned for October 1977.
§ Mr. Denzil DaviesThe information requested is as follows:
(i) Annuities paid in the last three years:
£ 1974–75 … … 1,386,006 1975–76 … … 1,363,586 1976–77 … … 1,356,300 (ii) Funds available to service existing redemption stocks:
£ Tithe Redemption Annuities Account … 7,364,540 Redemption Stock Sinking Fund … 7,414,099 (iii) It is anticipated that with the double payment in October 1977 and the annual Consolidated Fund contributions of £285,000 continuing there will be sufficient funds to service and ultimately to redeem the outstanding stock.
(iv) The estimated administrative costs in 1977–78 are £300,000.
293W(v) The payment made in October 1970 was £1,356,300, and that due in October 1977 is expected to be of the order of £3 million.