§ 74. Mr. LAWSONasked the Chancellor of the Exchequer the particulars of all subsidies and guarantees to which the Government has been committed since October, 1931, and the amount in each case?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Duff Cooper)I will, with the hon. Member's permission, circulate a statement in the OFFICIAL REPORT.
§ Following is the statement:
§ Statement of subsidies and guarantees to which the Government have been committed since October, 1931. This statement excludes loans, grants to local authorities and grants from the Colonial Development Fund:
§ 1. Subsidies.
§ SUBSIDY AND NEW COMMITMENT.
§ Beet Sugar Subsidy.
§ The British Sugar (Subsidy) Act, 1934, extended by 11 mouths (until 31st August, 1935) the period in respect of which subsidy is payable on sugar and molasses manufactured from beet grown in Great Britain. A sum of £3,300,000 was provided in 1931 Estimates.
§ Cattle.
§ The Cattle Industry (Emergency Provisions) Act, 1934, provided for temporary advances not exceeding £3,000,000 in all from the Consolidated Fund (which will be repaid out of voted money) to a Cattle Fund out of which payments should be made to producers of certain classes of fat cattle sold for slaughter in the United Kingdom between a date not earlier than 1st September 1934, and 31st March, 1935. As was explained in the White Paper on the livestock situation (Cmd. 4651) it is intended that all sums advanced, including advances to cover the cost of administration, shall be recoverable by the Exchequer from the proceeds of any levy which may hereafter be collected on imported meat and livestock.
§ Milk.
§ The Milk Act, 1934, provided for (a) repayable advances over a period of two years commencing 1st April, 1934, to secure to producers of milk a minimum return in respect of milk used in the manufacture of milk products. It is estimated that these advances will amount to about £3¼ millions. (b) Payments not exceeding £750,000 spread over four years with the object of improving the quality of the milk supply. (c) Payments not exceeding £1,000,000 spread over two years contributable to the Milk Marketing Boards to the extent of one half of their expenses shown to be incurred on approved arrangements for increasing the demand for milk, including the provision of milk at reduced rates for schools.
394§ SUBSIDY AND NEW COMMITMENT.
§ Herrings.
§ Supplementary Estimates which were passed by the House of Commons in July, 1934, provided the sum of £25,000 for assistance on certain conditions in respect of expenditure on fitting out herring drifters.
§ Mercantile Marine.
§ The British Shipping (Assistance) Bill at present before the House provides for a subsidy not exceeding £2,000,000 to be paid in respect of tramp voyages or parts of tramp voyages to be carried out in the year 1935.
§ Civil Aviation.
§ Australian Air Service.
§ In connection with the extension of this service beyond Karachi subsidies will be payable up to a maximum of approximately £210,000 over the period July, 1933, to March, 1939.
§ Assistance to Gliding Clubs.
§ An announcement has been made to the effect that assistance will be granted up to £5,000 per annum for five years, starting in 1935.
§ 2. Guarantees given or provided for under legislation passed since October, 1931.
| £ | |
| Tanganyika: | |
| 4 per cent. Guaranteed Loan, 1952–72 | 500,000 |
| Austria: | |
| 3 per cent. International Guaranteed Loan, 1933–53 | 4,514,200 |
| Newfoundland: | |
| 3 per cent. Guaranteed Loan, 1943–63 | 17,646,000 |
§ In addition to the above, legislation has been passed to authorise the Treasury to guarantee the principal and interest of a loan not exceeding £2,000,000 to be raised by the Government of Palestine.