HC Deb 12 April 1973 vol 854 cc1492-3
12. Mr. Charles Morrison

asked the Minister of Agriculture, Fisheries and Food what comparison he has made between the relative benefit to farmers of the 20 per cent. capital grant scheme Available in the United Kingdom and the cheap credit schemes available for capital investment in other countries of the EEC; and if he will make a statement.

Mr. Anthony Stodart

No precise comparison can be made because of the wide variety of terms and conditions for investment assistance in other countries, but on a broad view our grants compare fairly with what is given by other member States.

Mr. Morrison

Will my hon. Friend say whether, in addition to our own schemes, our farmers will be eligible for any form of assistance from the Common Market under FEOGA?

Mr. Stodart

As I have said, this is a slightly imprecise comparison to make. I should find it easier to write to my hon. Friend and explain the position to him.

Mr. Deakins

To what extent are higher interest rates in Great Britain, which stem direct from the Government's financial policy in recent years, likely to hinder the progress of British farming in improving productivity in the way that it has been improving since the war?

Mr. Stodart

We have no indication at the moment. That is a highly speculative question. I have no reason to suppose that the investment that has taken place will slow down.