HC Deb 08 July 1937 vol 326 c562
59. Mr. De la Bère

asked the Minister of Agriculture whether the Government will consider preparing schemes for providing long-term credits for farmers and others connected with the agricultural industry at a rate of 2½ or 3½ per cent. in place of the long-term credits which are now available at 5 per cent.?

Mr. W. S. Morrison

The Government are unable to adopt my hon. Friend's suggestion. The Agricultural Mortgage Corporation is charged by Statute with the responsibility of providing long-term credits for farmers. I explained in the reply I gave to my hon. Friend the Member for Lincoln (Mr. Liddall) on 3rd December last, a copy of which I am sending to my hon. Friend, the reasons which preclude the corporation from reducing their rates of interest at the present time.

Mr. De la Bère

Is the Minister aware that banks are selling up the homes of some of these poor people? May I ask: What is it that these gloomy bankers gain, One-half so precious as the homes they sell?

Mr. Morrison

I think that that question should be addressed to the bankers rather than to me.

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