55. Mr. De la Bèreasked the Chancellor of the Exchequer whether he will now consider the reorganisation of the Agricultural Mortgage Corporation, in view of the daily increasing need of working capital in the agricultural industry and the fact that the Agricultural Mortgage Corporation has not, since the outbreak of hostilities, utilised its resources to the full?
Mr. HudsonI have been asked to reply. I have nothing to add to the reply given to my hon. Friend on 16th July.
Mr. De la BèreDoes not my right hon. Friend realise that the reorganisation of this corporation is vitally necessary, and that it is necessary to reorganise the £50,000,000 outstanding from agricultural borrowers to the banks so that the rate of interest can be reduced? Has not this question been delayed too long, and will not my right hon. Friend give it his close attention?
Mr. HudsonThe credit position is having my close attention, and steps are being taken which will, I hope, clear it up.