Committee on Finance. - Finance Bill, 1974: Money Resolution.

I move:

That for the purpose of any Act of the present session to charge and impose certain duties of inland revenue, to amend the law relating to customs and inland revenue (including excise) and to make further provisions in connection with finance, it is expedient to authorise that to redeem borrowings and interest thereon in respect of capital services, there shall be charged on the Central Fund or the growing produce thereof—

(a) a sum equal to threefourths of £5,315,286 in the period beginning on the 1st day of April, 1974, and ending on the 31st day of December, 1974; a sum of £5,315,286 annually in each of the twenty-eight successive financial years commencing with the financial year ending on the 31st day of December, 1975, and a sum equal to one-fourth of £5,315,286 in the next following financial year; and

(b) a sum equal to three-fourths of £4,373,032 in the period beginning on the 1st day of April, 1974, and ending on the 31st day of December, 1974; a sum of £4,373,032 annually in each of the twenty-nine successive financial years commencing with the financial year ending on the 31st day of December, 1975, and a sum equal to one-fourth of £4,373,032 in the next following financial year.

Question put and agreed to.
Money Resolution reported and agreed to.