§ 38. Mr. NOEL BUXTON
asked the Minister of Agriculture whether he can make a statement showing the extent to which farmers are arranging to take advantage of the Agricultural Credits Act, 1928, Part II?
I am informed that agricultural charges in respect of 201 farmers had been registered up to the 8th November under Part II of the Agricultural Credits Act, 1928?
§ Mr. BUXTON
Has the right hon. Gentleman heard of any complaints from 486 farmers that the banks are not showing due interest: in the utilisation of the new charge?
I have had one letter from a farmer, who told me that his bank had not been willing to advance him a loan under a charge; but, of course, I do not know the other side of the story. That is the only case which has been sent to me.
§ 40. Mr. GEOFFREY PETO
asked the Minister of Agriculture when the Agricultural Mortgage Corporation will be constituted; and when long-term credits will be available for farmers?
I understand that the Agricultural Mortgage Corporation is being incorporated this week. Some time must necessarily elapse before it will be in a position to commence business, but there will he no avoidable delay.
I think it would be undesirable, for me to indicate any date just when this Corporation is being registered. It would involve a vast mass of correspondence, and it would be better to leave it to them to announce the date as soon as the preparations are sufficiently advanced.
§ Major GEORGE DAVIES
Is the right hon. Gentleman contemplating taking steps to make known as widely as possible when this Corporation will be in a position to commence business, because demands are coming in to us all the time?
I understand that the Corporation will welcome any assistance in making the facilities known as soon as they are ready.
§ Sir BASIL PETO
Will the Minister of Agriculture take steps to let the farmers know that these credit facilities are not at present available, because they are undertaking obligations under the belief that they would have the credit on the 1st October?
Part II of the Act came into force upon the 1st October, and the volume of agricultural charges registered is rapidly increasing.