§ 40. Captain P. MACDONALDasked the Minister of Agriculture if he can now make any further statement with regard to the action which he proposes to take to provide more adequate credit facilities at low rates of interest for British farmers?
§ Major ELLIOTThe policy of the Government is to do its utmost to raise the general prosperity of the agricultural industry and thus to improve the credit position of farmers. It is not, however, proposed as part of this policy to set up any State-aided system of credit facilities for individual producers.
§ Mr. LOUIS SMITHIs the right hon. Gentleman aware that many farmers who have accepted advances under the credit scheme have had their credit very much 516 restricted—that is, the credit which they had previously obtained from their suppliers—owing to lack of confidence in this scheme?
§ Captain MACDONALDIs it not a fact that several of the banks are making it very difficult for farmers to obtain loans under the existing Act; and does he think that the Act is being properly carried out?
§ Mr. B00THBYDoes not my right hon. Friend think it more important to secure for the farmers prices which will enable them to make a living than credit facilities which will get them further into debt?