§ 26. Mr. LEONARDasked the Secretary of State for the Colonies whether regulations affecting moneylenders are in force in Cyprus; and whether the amount of interest is controlled and the rate of interest?
Mr. M. MacDONALDYes, Sir. In so far as loans made to farmers are concerned, the interest is restricted by law to a maximum of 12 per cent per annum.
§ Mr. LEONARDDoes not the right hon. Gentleman consider such an interest charge too high as applying to persons of such poverty, and will he not take steps to modify this charge?
Mr. MacDONALDThe hon. Member asked for information, and I have given him the facts in answer to his question, but, as he may possibly know, the whole 1999 question of agriculture indebtedness in Cyprus is now receiving very careful consideration.