asked the Minister for Lands if he will state in respect of the deficiency in the Land Bond Fund, mentioned on page 244 of Economic Development, (a) the total acreage in respect of which the deficiency occurs, and (b) the approximate deficiency (i) per acre, and (ii) per county.
Written Answers. - Land Bond Fund Deficiency.
21.
The sum referred to is the Exchequer contribution for the year 1958-59 towards service of land purchase debt, incurred by Land Bond issues since 1923, arising from the halving of purchase annuities, etc., in 1933 and the issue of bonus bonds to certain vendors whose lands were in process of purchase when Land Act, 1953, was being enacted. The statutory references are Section 27 (2), Land Act, 1933, and Section 6 (4), Land Act, 1953.
The total acreage involved is 4.2 millions. The approximate deficiency per acre is 3/5 per annum and the average per county is £27,700 per annum.