HC Deb 11 April 1956 vol 551 c16W
57. Mr. Benn

asked the Secretary of State for the Colonies how much money has been paid into the Northern Rhodesia Farming Improvement Fund in the last three years; how much has been spent in each year on improvements for African farming; and why such a large balance as £278,837 has not been spent in view of the urgent need for increased production.

Mr. Hare

The amounts paid in during the last three financial years have been £24,462, £122,430 and £168,365.

The expenditure in those years was £107,875, £118,741 and £86,571. The sum of £278,837, which represents the accumulated funds at 31st May, 1955, includes the value of farm buildings, equipment and stocks held by the fund, and an uncommitted balance of £148,553. It is necessary to hold in reserve a sum roughly equal to the estimated expenditure for the following year because the revenue of the Fund fluctuates considerably from year to year.