§ 49. Major COLFOX
asked the Chancellor of the Exchequer whether he will give, in tabular or other form, a full statement of all the sums given, lent, or guaranteed by His Majesty's Government for the benefit of agriculturists in foreign and Empire countries during the last few years?
§ Mr. PETHICK-LAWRENCE
As the reply contains a large number of figures, I propose, with the hon. and gallant Member's permission, to circulate it in the OFFICIAL REPORT.
§ Major COLFOX
Seeing that there are a large number of figures concerned, do the Government consider that this is the best way of helping home agriculture?
§ Following are the figures:
§ I am not aware of any provision made by His Majesty's Government for the benefit of agriculturists in foreign countries during the past few years, but as the House has already been informed His Majesty's Government propose to participate with other Governments in the International Mortgage Credit Company, which would involve an advance by His Majesty's Government of £120,000 for the Reserve Fund of that institution.
§ As regards Empire countries, the following are the sums given, lent or guaranteed by His Majesty's Government during the six years ended 31st March, 1931.
§ I.—UNITED KINGDOM.
- 1. Expenditure on agricultural services by Ministry of Agriculture and Fisheries and Department of Agriculture, Scotland, including expenditure out of grants from the Development Fund: £17,488,000 (including £38,000 for loans).
- 2. Beet-sugar subsidy: £21,685,000.
- 3. Loans from the Local Loans Fund under the Agricultural Credits Act, 1923: £2,700,000.
- 4. Loan of £650,000 free of interest for 60 years made under the Agricultural Credits Act, 1928, to the Agricultural
223 Mortgage Corporation formed for the purpose of granting long term loans on mortgage of agricultural land, and a non-repayable grant of £62,600 towards the cost of procuring the underwriting of £5,000,000 debentures issued by the corporation. Under the Agricultural Credits (Scotland) Act, 1929, a loan not exceeding £125,000 is authorised to be made to a similar corporation in Scotland together with a non-repayable grant of £10,000.
- 5. Grants under the Agricultural Rates Acts, 1896, 1923, and 1929, and the equivalent of these grants included in the Exchequer Grant payable under the Local Government Act, 1929, and the corresponding Scottish Acts: £41,250,000.