§ 25. Sir IAN MACPHERSONasked the Chancellor of the Exchequer whether, in view of the low rate of interest now payable on Government loans, he will give old borrowers under the Agricultural Credits Acts the same advantage as new borrowers and charge a rate of 3½ per cent. instead of 5 per cent. on all loans?
Mr. CHAMBERLAINI would refer my right hon. Friend to the answer given by the Financial Secretary to my hon. and gallant Friend the Member for Berwick-on-Tweed (Captain Todd) on 17th November last, of which I am sending him a copy.
§ Sir I. MACPHERSONMay I ask whether the Government are considering the advisability of doing this or not?
§ Mr. LOUIS SMITHIs the right hon. Gentleman satisfied that farmers are obtaining the full benefit under these Agricultural Credits Acts that the Government intended they should have, and as regards the short-term credits does he not consider that amendments are urgently needed in the interests of the farmers?