§ 55 and 56. Major McLEAN
asked the Chancellor of the Exchequer (1) how many advances to farmers have been applied for under the Agricultural Credits Act, 1923, and the aggregate amount so applied for;
(2) whether any advances to farmers have been approved under the Agricultural Credits Act, 1923; and, if so, will he state the number and the aggregate amount of such advances approved, and the number and the aggregate amount of such advances actually made?
I will answer these questions together. The number of inquiries has been 1,297. In many cases no definite sum was applied for, so it is impossible to give the aggregate sum covered by these inquiries. 633 loans have been granted, to the aggregate amount of £2,434,316. Of these, 186 have been actually advanced to date to the amount of £663,902.
§ Major McLEAN
Can the Financial Secretary tell us whether the applications approved, in respect of which no grants have yet been made, are entirely effective applications, or whether they include applications that have been withdrawn by the applicants or rejected by the Public Works Loan Board on the ground that the applicant cannot produce a 40 years' title?
Obviously to answer that question an analysis of the applications would be necessary. I will see whether the information can be given.