HC Deb 19 June 1939 vol 348 c1802
47. Mr. De la Bère

asked the Minister of Agriculture whether he will consider establishing a company with some such title as the Agricultural Industries Development Corporation, Limited, and guaranteeing as to principal and interest £25,000,000 at 2½ per cent. on debenture stock, the security for such loan being the land and buildings which the development company purchased, taking as a precedent the moneys lent to the Railway Finance Corporation, Limited, in December 1935, which were guaranteed as to principal and interest by the Treasury?

Sir R. Dorman-Smith

I regret that I am unable to adopt my hon. Friend's proposal.

Mr. De la Bère

Does not the right hon. and gallant Gentleman realise that the public are quite prepared to lend money to agriculture under Treasury guarantee; and why should not agriculture be given that help in the same way that the railway companies receive Treasury assistance?

Sir R. Dorman-Smith

I am not sure whether I quite understood all the implications of the suggestion of my hon. Friend and perhaps he will be good enough to come and talk the matter over with me.