§ Mr. C. BATHURSTasked the Secretary to the Treasury whether the statement in the First Report of the Development Commissioners to the effect that the Development Fund should not provide money for undertakings urged upon them as likely to be remunerative, and not obtain at least repayment and reasonable interest if the anticipations of the promoters were fulfilled, will admit of a grant being made out of the funds by way of loan for the purchase of land in England for the growth of sugar beet for the supply of 2851W roots to a pioneer English factory, on the footing that repayment of the loan and payment of reasonable interest are adequately secured?
Mr. McKINNON WOODThe statement to which the hon. Member refers is not in present circumstances applicable to the case of the sugar beet industry, owing to the provisions of the International Sugar Convention. If the terms which the hon. Member contemplates are terms on which the necessary sum could be raised in the open market, there is clearly no reason why application should be made for an advance from the Development Fund. If they are not, the Commissioners are advised that no such form of Government encouragement to the manufacture of sugar in this country would be permissible under the Convention.
§ Mr. KERR-SMILEYasked the Chief Secretary if he was in a position to state the amount that was to be allocated out of the Development Fund for the improvement of harbours in North Antrim, and when any portion of the money would be available?
§ Mr. BIRRELLI am not at present in a position to make any statement in the matter referred to by the hon. Member.