HC Deb 14 April 1914 vol 61 cc16-7

asked the Secretary to the Treasury if he will inform the House if the advance of £4,000 to the Cornwall Sea Fisheries Committee, to assist the fishermen at Mount's Bay ports and St. Ives to instal mechanical power in their fishing vessels, has already been made; and what is the rate of interest to be paid by the fishermen and the security demanded of them?


An advance of £4,000 by way of loan from the Development Fund to the Cornwall Sea Fisheries Committee has been already sanctioned by the Treasury for the purposes referred to in the question. The loan bears interest at the rate of 3 per cent., but the actual rate of interest to be paid by the fishermen for individual loans, and the security to be given, will be arranged by the fishermen's societies through whom the individual loans are to be made, subject to the approval of the Cornish Administrative Committee appointed to administer the loan as a whole.


Could the House be told what the rate of interest charged to the fishermen is going to be?


I understand that the rate of interest on the individual loan will vary according to the circumstances of the individual loan; but if the hon. Gentleman is interested, I shall be glad to inquire if any loans have been made, as I do not think any have yet been made.


asked if the application of the Devon Sea Fisheries Committee for £10,000 from the Development Fund has been definitely refused; and if the Treasury have decided not to recommend that the Development Commissioners should make any advances from the Development Fund to assist the fishermen of Devon?


The Development Commissioners have not entertained the application referred to, but they have recommended, and the Treasury has sanctioned, an advance from the Development Fund to the Devon Sea Fisheries Committee of £2,000 by way of Grant for the purpose of making experiments with motor power in trawlers and in types of boats used at inshore fishing stations where fishing is carried on from open beaches.