§ Mr. Snowasked the Minister of Agriculture, Fisheries and Food what has been the gross total borrowing of farmers at 284W the maximum in each year since 1963; and whether recent increases are in accordance with his general policy.
§ Mr. John MackieI regret that figures concerning the gross total borrowing of farmers cannot be given because this includes substantial amounts of credit derived from sources such as hire-purchase credit companies and private mortgagees about which no statistics are available.
The maximum figures for total bank advances to agriculture in Great Britain, which include loans to merchants and auctioneers, have risen from £446 million in 1963 to £505 million in 1964 and to £516 million in 1965.
The Government have set out in the Agriculture Bill their proposals for making additional credit available for amalgamation schemes, for making further advances to the Agricultural Mortgage Corporation and the Scottish Agricultural Securities Corporation, and for giving permanent statutory effect to the grants towards fulfilling guarantees of bank loans to agriculture or horticulture businesses.