§ Mr. Michael Lathamasked the Minister of Agriculture, Fisheries and Food what representations he has received from the Country Landowners Association regarding the ¾ per cent. increase in the borrowing rate of the Agricultural Mortgage Corporation, following the increase in stamp duty; and what reply he has sent.
§ Mr. BuchanThe corporation raised its rate for fixed rate loans on 8th June by ½ per cent.
This increase includes an element to provide for the increase in stamp duty and the association represented that the corporation should be relieved from paying this increase. It was told that the matter had already been carefully considered as a result of direct representations from the corporation and it had been decided that it was not possible to make an exception in this case.