§ Mr. BuchanI beg to move Amendment No. 35, in page 13, line 36, leave out 'seventy-five' and insert 'eighty'.
This Amendment seeks to increase the ceiling of grants for farm improvements from £175 million to £180 million. We 1068 know what is happening to the improvement scheme. However, we are also concerned with what happens to the £ in the meantime. The rate of inflation that we have faced over the last year has been high. Since the Committee stage of this Bill we have had the floating of the £. As a result we wonder whether it is right to set the ceiling at £175 million.
We are dealing not with expenditure but with the controlled ceiling over expenditure. In any event, if the actual expenditure went up, I take it that the Government would have to find means of dealing with it. There is no reason why they should not err on the safe side by moving the ceiling to £180 million. It seems to be the logical thing to do.
§ Mr. Buchanan-SmithThe effect of the Amendment is to increase the ceiling on the amount of grant under the farm improvement schemes from £175 million to £180 million. Our latest reassessment of the position in the light of the most up-to-date information available gives us no reason to believe that the margin afforded by the increased figure of £175 million will prove inadequate. However, since there cannot be absolute certainty about the matter and since acceptance of the proposed figure of £180 million will not affect the amount of grant which will be paid, I am happy to accept the Amendment.
I might say that I was a little worried that the hon. Member for Renfrew, West (Mr. Buchan) might embark on a course which would have embarrassed me in accepting the Amendment. However, he did not. I accept the Amendment, and I commend it to the House.
§ Question put and agreed to.