§ 61. Mr. RAFFANasked the Chancellor of the Exchequer whether a loan has been made by the Government to the Agricultural Organisation Society in connection with the acquisition of new premises by the latter; what is the amount of such loan; whether this loan has been granted free of interest; and whether he will state the reasons for such exceptional treatment being accorded to that society?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Baldwin)Yes, Sir. A loan of £15,000 has been granted by the Treasury, on the recommendation of the Development Commissioners, to the Society for the acquisition of premises, free of interest till the 31st March, 1922. Assistance towards the organisation of co-operation in agriculture is one of the statutory objects of the Development Fund, and it is part of the policy of the Government to promote this object."
§ Mr. RAFFANIs it not the case that this Association has a reputed trading turnover of 8 millions sterling a year, and under these circumstances is there any more justification for lending money to it free of interest than for advancing it free to other bodies?
§ Mr. BALDWINThe Development Commissioners who investigated this case 254 satisfied themselves that the object of the Society is desirable in itself and worthy of advancement. The Treasury endorsed their view and in my opinion Very properly sanctioned the loan.
§ Mr. RAFFANBut is it not true that this is a trading concern with a reputed turnover annual of over 8 million pounds. Was that fact taken into consideration?
§ Colonel WEDGWOODIs the Treasury aware that the organisation got at least from £43,000 to £45,000 from the Government previously, and is not this a grant of an additional £15,000? Was that fact considered?
§ Mr. A. WILLIAMSIs the right hon. Gentleman aware that this is not a trading society at all, but a propagandist body, and that the figures quoted refer to other bodies founded on the principles which this propagandist body advocates?