HC Deb 24 March 1958 vol 585 cc13-4
24. Mr. Willey

asked the Minister of Agriculture, Fisheries and Food whether he will make a statement on the Revolving Loan Fund.

Mr. Godber

Her Majesty's Government have agreed with the United States Government to transfer to the use of certain British Territories in Africa the Revolving Loan Fund for Agriculture, in the same way as the Fund for Industry. No new applications for loans from these funds in this country will be accepted after 31st March.

Mr. Willey

While appreciating the reasons why this step has been taken, may I ask whether the Parliamentary Secretary realises that it is rather disturbing that this Fund is going? Cannot he revive it in some other way?

Mr. Godber

We should get this into perspective. This fund represents about £300,000, compared with much larger sums that are made available to farmers in many other ways. There are also the facilities provided through the Agricultural Goods and Services Scheme, which has no limit set upon it and which would provide a suitable alternative.

Mr. Willey

I am sure the hon. Gentleman realises that this Fund served a particular purpose. Will he discuss this question with the National Farmers' Union to see whether there is any need for this service?

Mr. Godber

We have discussions with the N.F.U. on various matters. So far as I can see—I am prepared to look at the matter again—from the point of view of the full-scale picture this will not make an important difference to the facilities available to farmers.