§ Mr. Harold Daviesasked the Minister of Agriculture the amount paid out in loans to farmers each year since the establishment of the Agricultural Mortgage Corporation; and also the rates of interest on the loans for each year.
§ Sir T. DugdaleI am informed that the total amount of loans granted by the Agricultural Mortgage Corporation, Ltd., including improvement loans under the Improvement of Land Acts, 1864 and 1889, in each year since the Corporation was established in 1928, is at follows:
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Year Amount of loans granted£ 1929–30 … … … 4,177,371 1930–31 … … … 2,895,012 1931–32 … … … 1,775,146 1932–33 … … … 1,359,178 1933–34 … … … 375,886 1934–35 … … … 598,227 1935–36 … … … 477,121 1936–37 … … … 394,066 1937–38 … … … 468,843 1938–39 … … … 485,956 1939–40 … … … 413,895 1940–41 … … … 321,707 1941–42 … … … 286,486 1942–43 … … … 395,819 1943–44 … … … 200,546 1944–45 … … … 442,002 1945–46 … … … 1,110,913 1946–47 … … … 1,759,354 1947–48 … … … 2,122,502 1948–49 … … … 2,746,086 1949–50 … … … 3,539,116 1950–51 … … … 4,133,828 1951–52 … … … 4,952,693 1952–53 … … … 4,489,690 1953–54 … … … 1,944,603 The rates of interest charged by the Corporation have been as follows:
Date Mortgage Loans Improvement Loans Per cent. Per cent. 19th December, 1928–15th April, 1934 5 — 24th January, 1929–15th April,1934 — 5¼ 16th April, 1934–15th May, 1944 4¼ 4 16th May, 1944–3rd November, 1949 3½ 3½ 4th November, 1949–16th May, 1951 4 4 17th May, 1951–25th November, 1951 4¼ 4¼ 26th November, 1951–25th February, 1952 4¾ 4¾ 26th February, 1952–6th August, 1953 5½ 5½ 7th August, 1952–13th May, 1953 6 6 14th May, 1953–25th November, 1953 5½ 5½ 26th November, 1953–19th May, 1954 5 5 20th May, 1954, to date 4½ 4½