§ 18. Lieut.-Colonel RUGGLES-BRISEasked the Minister of Agriculture whether he is now in a position to give any further information with regard to the proposed long and short term credit schemes?
§ The MINISTER of AGRICULTURE (Mr. Guinness)Negotiations are still proceeding with regard to both long and 888 short term credit, but I regret that I am not yet in a position to make any announcement on the subject.
§ Lieut.-Colonel RUGGLES-BRISECan my right hon. Friend give me any indication as to when he will be in a position to make a further statement?
§ Mr. GUINNESSIt is a very intricate subject. The Treasury are in communication with various financial interests, and I can only repeat that as soon as any conclusion is reached I shall be happy to give the earliest information.
§ Mr. GUINNESSI have explained to the House the difficulty of prophesying. In any case, it is out of the question to pass any legislation during the current Session.
§ Sir FREDRIC WISEMay I ask whether it is not the fact that these agricultural credit societies have been an absolute failure?
§ Mr. GUINNESSNo, I do not think that that would be an accurate statement, because the Land Improvement Company, which is, probably, what my hon. Friend is referring to, deals with a much smaller class of need than that which we hope to meet.
§ Mr. SKELTONArising out of the first part of my right hon. Friend's answer, is he satisfied that any progress is being made with the negotiations?
§ Mr. GUINNESSYes, Sir.
§ Mr. HARRISIs it not the case that the success of schemes of this kind largely depends on the system of land tenure, and the question of security of tenure?
§ Mr. SPEAKERThat is too large a matter for Question Time.