HC Deb 27 July 1955 vol 544 cc163-4W
116. Mr. Hurd

asked the Chancellor of the Exchequer whether, in view of our balance of payments problems and the importance of efficient agricultural production, he will re-affirm his directive of March, 1952, which was intended to ensure that the banks in applying their advances policy give priority as well to agriculture as to our defence programme and exports.

Sir E. Boyle

In his letter of 25th July asking for a reduction in the total of bank advances, my right hon. Friend said that it was for the banks to decide what steps they must take in order to make this policy effective. I have no doubt that in doing so they will give full weight to the importance of agricultural production.