HC Deb 17 October 1973 vol 861 cc198-9W
Mr. Biffen

asked the Minister of Agriculture, Fisheries and Food if he will make a statement on the Government's policy towards subsidised agricultural credit in the light of EEC Directive 159/72.

Mr. Anthony Stodart

Under EEC Directive 159/72 assistance for farm modernisation may be given by way either of an interest subsidy or of a capital grant or a combination of subsidy and grant. The directive limits the assistance that may be given to a maximum interest subsidy or its equivalent in capital grant or combined subsidy and grant. The Government consider that capital grants are the form of assistance best suited to the circumstances of the United Kingdom.