§ Dr. David ClarkTo ask the Minister of Agriculture, Fisheries and Food if he will list(a) the interest charges for current farming purposes, buildings and works and (b) the bank advances for agriculture for each year from 1979 to 1990.
§ Mr. GummerThe information requested is shown in the table. The figures for total interest charges to agriculture for current farming purposes, buildings and works include interest on bank advances and on advances from other financial institutions. They are net of interest received by farmers on money held on short-term deposit. The figures for bank lending are the amounts outstanding to agriculture, forestry and fishing as at November each year. Bank advances for current farming purposes, buildings and works represent 80 to 90 per cent. of the total. Bank lending to agriculture, forestry and fishing expressed as a proportion of total bank lending has fallen substantially over the period.
Year Total interest charges for current farming purposes, buildings and works Bank lending to agriculture, forestry and fishing1 £ million £ million As a proportion of total bank lending Percentage 1979 318 2,600 4.7 1980 464 3,178 5.0 1981 468 3,660 4.7 1982 501 4,447 4.3 1983 494 5,184 4.2 1984 569 5,495 3.6 1985 704 5,877 3.5 1986 700 6,088 3.0 1987 637 6,080 2.5 1988 696 6,530 2.1 1989 955 6,836 1.7 1990 21,080 7,118 1.6 1 As at November. 2 Provisional.