HC Deb 24 March 1930 vol 237 c32
63. Mr. SAWYER

asked the Minister of Agriculture what is the annual liability falling upon his Department or upon the Treasury to meet public expenses in connection with the Agricultural Credits Act, 1928; and what is the amount of public money that has been expended to date?


The only annual liability is a contribution to the cost of administration of the Agricultural Mortgage Corporation amounting to –10,000 per annum for the first 10 years. This is borne on the Vote of the Ministry of Agriculture and up to n ow –10,000 has been paid. The Treasury has made an advance to the Corporation, of –650,000 free of interest, for a maximum period of 60 years. It has also paid the underwriting expenses, amounting to –62,500, in respect of the issue of –5,000,000 debentures by the Corporation.

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