asked the Minister for Finance if he will state for each of the years ended 31st March, 1935 and 1936 (a) the total amount of land purchase annuities which accrued due, (b) the arrears from previous years, (c) the total collectible, (d) the amount collected, (e) the amount of the liability incurred by the Exchequer in respect of remission of arrears under the Land Act, 1933, and (f) for each of the years ended 31st March, 1934, 1935 and 1936 the amount of the liability incurred by the Exchequer in respect of the reduction of land purchase annuities payable by annuitants by approximately 50 per cent.; and further to estimate the total additional State commitment in respect of such halved purchase annuities, having regard to the scheme of land division in contemplation.
Ceisteanna—Questions. Oral Answers. - Land Purchase Annuities.
The following are the particulars:—
(a) The total amount of land purchase annunities which accrued due in the year ended 31st March, 1935, was £2,448,180, and in the year ended 31st March, 1936, was £2,422,867.
(b) The arrears on the 1st April, 1934, and 1st, April, 1935, were £373,413 and £891,149 respectively.
(c) The total amounts collectible in the financial years 1934-35 and 1935-36 were accordingly £2,821,593 and £3,314,016.
(d) The amounts collected were, in the year ended 31st March, 1935, £1,930,445 being £1,045,166 in respect of current annuities and £885,279 in respect of arrears, and in the year ended 31st March, 1936, £2,289,334, being £1,047,788 in respect of current annuities and £1,241,546 in respect of arrears.
(e) There was no liability incurred by the Exchequer.
(f) The direct liability for sinking fund and interest incurred by the Exchequer arising from the revision of the post-1923 land annuities was:
|
1933-34 |
£271,019 |
|
1934-35 |
£547,520 |
|
1935-36 |
£559,628 |
The additional losses incurred by the Exchequer by reason of the reduction of the pre-1923 land annuities were:—
|
1933-34 |
£ 771,661 |
|
1934-35 |
£1,543,446 |
|
1935-36 |
£1,539,831 |
It is not possible to state at the moment the amount of land bonds that will be issued under the Land Bond Act, 1934, and accordingly no firm estimate can be formed of the total additional State commitment in respect of halved purchase annuities.