§ Mr. Wigginasked the Minister of Agriculture, Fisheries and Food what arrangements his Department makes to monitor increased building costs in order to review standard costs in the Farm Capital Grant Scheme.
§ Mr. Anthony StodartMy Department keeps a close watch on movements in building costs and other costs which are relevant to the determination of standard cost under the Farm Capital Grant Scheme. The lands arm of the Agricultural Development and Advisory Service receives regular information on costs of materials and has direct knowledge of movements in costs of buildings and works.
§ Mr. Wigginasked the Minister of Agriculture, Fisheries and Food if the saving of £15 million per annum expected as a result of the 10 per cent. cut in the Farm Capital Grant Scheme will show before 1975.
§ Mr. Anthony StodartThe estimated annual saving for the United Kingdom of approximately £15 million following the reduction in the standard rate of grant of 10 percentage points is expected to be substantially achieved as early as the financial year 1974–75.