§ 10. Mr. Godberasked the Minister of Agriculture, Fisheries and Food if he will give an estimate of the additional capital required to implement the provisions of the selective expansion programme.
§ Mr. PeartIn the selective expansion programme the industry estimated that annual fixed investment in agriculture would increase by some £30 million by 1970. The Government, while not accepting this figure as a precise estimate, recognised that the industry would need to have the resources required to achieve the programme. As the right hon. Member knows, we review requirements annually and the recent Review award provides a substantial sum for additional investment.
§ Mr. GodberDoes not the right hon. Gentleman accept that in the National Plan a figure rising to over £200 million a year is given as the requirement for capital investment? This is a vast sum of money. Is he saying that the recent Price Review award will help materially? There must be some other sources of capital if farmers are to do what the right hon. Gentleman wants.
§ Mr. PeartIn reply to a previous Question I stated the figure the right hon. Gentleman has just mentioned. We 516 discussed this at the Review and the award will help considerably. I am glad of this. I hope that the right hon. Gentleman will appreciate it and will not be as gloomy as some of his hon. Friends.