§ 37. Sir M. WOODasked the Minister of Agriculture whether he can give any information as to the recent financial assistance granted by the State to the Norwegian fishing industry?
§ Major ELLIOTAs the reply is somewhat long, I propose, with the hon. Member's permission, to circulate it in the OFFICIAL REPORT.
§ Following is the reply:
§ FINANCIAL ASSISTANCE granted to the Fishing Industry by the Norwegian Government.
- (a) The State during 1932 gave a guarantee to the Bank of Norway for a sum not exceeding one million kroner (about £51,000*) for loans to fishermen or fishermen's associations for curing their own fish, and not exceeding one million kroner for buyers for the purchase of fish during the big cod-fisheries of 1932.
- (b) The National Exchequer and public funds have made available Kr.350,000 (about £18,000*) as a contribution towards writing down the debts of necessitous borrowers from the Norwegian State's Fishery Bank.
- (c) From the Fisherman Fund of 1920 a sum not exceeding Kr.1.5 millions (about £76,000*) has been made available for loans to poor fishermen for the purchase of tackle.
- (d) From the National Exchequer Kr.5 millions (about £255,000*) have been granted as capital for the foundation of a Loan Chest for Farmers and Fishermen.
- (e) The State has given a guarantee amounting to 75 per cent. for sale to Russia of not more than 300,000 barrels of herrings and 3,000 tons of salt fish.
§ * At prevailing rate of exchange.