§ Colonel Glynasked the Minister of Agriculture, Fisheries and Food whether he will make a statement about the future of his Department's scheme for scholarships for the sons and daughters of agricultural workers.
§ Mr. John HareI have carefully reviewed this scheme after consultation with the local authority and agricultural organisations. In view of the much increased scale on which authorities are now providing scholarships for agricultural courses—it is estimated that about 2,500 awards are being made annually—and of the steady decline over the last few years in the number of applications for my Department's awards, I have come to the conclusion that there is no longer need for a special scheme of
Year June-May Actual net farming income £m. Net increment of occupiers' capital £m. Spendable Income £m. Index of real spendable income (1948=100) (1) (2) (3) (4) (5) 1947–48 … 223.5 82.0 141.5 82 (1948 calendar year) … (100) 1948–49 … 291.0 85.5 205.5 113 1949–50 … 305.0 88.0 217.0 116 1950–51 … 268.5 77.5 191.0 97 1951–52 … 323.5 86.0 237.5 112 1952–53 … 334.0 69.0 265.0 120 1953–54 … 332.0 52.5 279.5 124 1954–55 … 296.0 22.0 274.0 119 1955–56 … 329.5 66.5 263.0 110 1956–57 … 314.0 36.0 278.0 112 (1957 calendar year) … (119) 1957–58 forecast … 360.0 44.5 315.5 Not yet available but probably over 120. The index in column 5 is obtained from the figures in column 4 adjusted by the consumer price index.
The column headed "net increment of occupiers' capital" shows a decline in re-investment. The relatively high figures recorded in the years soon after the war reflected a pressing need to restore and increase the numbers of various kinds of livestock and to equip farms with more machinery. In recent years the need for this kind of investment has, unlike the need for fixed investment, much diminished, and a larger share of net income has been available for personal spending.