HC Deb 06 August 1940 vol 363 cc31-2
55. Mr. De la Bère

asked the Chancellor of the Exchequer whether he will consider giving a Treasury guarantee through the banks, both as to principal and interest, to take over the whole of the sum of, approximately, £53,000,000, loaned by the clearing banks to the agriculturists of this country and any further advances required up to a maximum of £100,000,000, conditional on the banks not charging more than the Bank Rate interest of 2 per cent. on the sum involved and bearing in mind the precedent established by the Treasury guarantee as to principal and interest given by the Railway Agreement Act, 1935?

Sir K. Wood

No, Sir.

Mr. De la Bère

Is my right hon. Friend aware that this matter cannot be lightly dismissed, and, indeed, cannot be dismissed at all? Does not this matter press for some settlement, and who are the mighty invisible forces which prevent action being taken? Why does my right hon. Friend acquiesce so tamely in all these things? On a point of Order. This matter has remained unattended to for five years, and in view of the unsatisfactory nature of the reply I shall raise the matter on the Adjournment. It is an absolute scandal and disgrace and brings the whole thing into contempt.

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