§ 64. Mr. Thorpe
asked the Minister of Agriculture, Fisheries and Food whether, in view of the increase in the Bank Rate, he will now consider sympathetically the proposal to set up a land bank to provide term loans at fixed reasonable rates of interest for long-term agricultural developments.
§ Mr. Scott-Hopkins
The Agricultural Mortgage Corporation set up under the Agricultural Credit Act, 1928, and its Scottish counterpart, appear to be land banks as defined by the hon. Member, and both have been so functioning for over 30 years. The Lands Improvement Company also operates in this field.