HC Deb 10 February 1965 vol 706 cc367-8
19. Mr. Hawkins

asked the Minister of Agriculture, Fisheries and Food when he intends to set up an agricultural credit organisation which will have special responsibilities for providing farmers with medium-term credit at reasonable rates of interest.

Mr. Peart

I would refer the hon. Member to the reply I gave on 3rd February to the hon. Member for Caithness and Sutherland (Mr. George Y. Mackie).

Mr. Hawkins

Is the right hon. Gentleman aware that the statement in my Question was part of a speech given by the then Deputy Leader of the Labour Party at Swaffham, Norfolk, in July 1963, and later reprinted in a booklet called "British Farms—New Security"—and that many small farmers are anxiously awaiting the introduction of this credit organisation so that they can take up grants under the horticulture and other schemes?

Mr. Peart

I am glad that the hon. Gentleman has carefully read our statements. As I said to the hon. Member for Caithness and Sutherland, I am carefully looking into this question and, when we come to a decision, we shall announce it.

Mr. Soames

Was this not looked into very carefully when the right hon. Gentleman made the pledge? What does he mean by "reasonable rates of interest"?

Mr. Peart

I made the pledge in principle. It was inevitable that when we assumed power the legislation required to carry out some of these principles would have to be carefully looked into. Apart from that, we have to consult the interests concerned.

Mr. George Y. Mackie

Is the right hon. Gentleman aware that there is a tendency to believe that he should do more and review less?

Mr. Peart

The hon. Gentleman will accept the principle that before we make final decisions on very important matters we should consult the farming interests.

Forward to