HC Deb 19 July 1927 vol 209 cc253-4W

asked the Secretary of State for Scotland what was the total amount set aside for loans in Scotland under the Agricultural Credits Act., 1923; and what sums have been advanced to Scottish farmers under this Act?


The sum of £5,000,000 has been approved by the Treasury as the aggregate amount which may be advanced by the Public Works Loan Commissioners under Section 1 of the Act. There is no specific allocation this amount as between Scotland and England. The loans granted to Scottish farmers under Section 1 of the Act up to 31st March, 1927, amounted to £544,064. A sum of £60,000 was paid to the Agricultural Credits (Scotland) Account for the making of advances under Section 2 of the Act to agricultural credit societies in Scotland. Only one society took advantage of this provision and the advances made during the period of operation of that section amounted to £1,247 10s.