asked the Minister for Lands how the annuity on land allotted to smallholders by the Land Commission is assessed; and why this annuity is so high.
Ceisteanna—Questions. Oral Answers. - Land Annuity Assessment.
69.
In general, the market value of acquired lands and the cost of labour and materials for improvement works, have been rising steadily for several years. There is no question of the Land Commission making a profit from allotments to smallholders. In the general interest, it is necessary, however, to keep capital losses on resale of lands down to minimum and to recover improvement costs as far as is reasonably practicable.
It is inescapable, therefore, that the allottees' annuities on current allotments must reflect the higher purchase prices and improvements costs. But these annuities compare very favourably with letting rents in private transactions on the open market.