§ Sir F. SANDERSONasked the Minister of Agriculture whether the rate of interest proposed to be charged for agricultural credits is to be on a 5½ per cent. basis plus a I per cent. sinking fund, thus making 6½ per cent. in all; and whether he will consider fixing such interest at a lower rate, so that these agricultural credits may be of real assistance to farmers?
§ Sir R. SANDERSThe Report of the Committee on Agricultural Credit contemplated the advance of money at a rate of 5½ per cent. plus amortisation over a period of 40 years to those farmers who purchased their holdings within certain specified dates. My hon. Friend may rest assured that the terms prescribed for these loans on the lines recommended will be the most favourable that can be arranged on an economic basis.
§ Mr. LAMBasked the Minister of Agriculture whether the funds of the Public Works Loan Commissioners will be available to enable the Farmers' Land Purchase Company to make loans to farmers who have purchased their holdings between 1917 and 1921, provided the company assents to limitation of dividends and such other conditions as may be required by the Treasury?
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§ Sir R. SANDERSMy hon. Friend will understand that I cannot, at this stage, usefully add to the answer which I gave to the hon. Member for Ormskirk (Mr. Blundell) on the 26th instant.