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Volume 389: debated on Thursday 13 May 1943

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asked the Minister of Agriculture whether, in consultation with the Chancellor of the Exchequer, he will consider introducing legislation to widen the statutory powers of the Agricultural Mortgage Corporation, Limited, so as to enable them to handle short term and intermediate credits as well as grant mortgage loans, having regard to the fact that the Corporation have at the present time cash and investments of over £3,000,000 not being utilised for agricultural purposes?

No, Sir. I have no reason to think that existing facilities for short-term and intermediate credit to farmers are inadequate for present needs.

Is my right hon. Friend aware that, even if the Agricultural Mortgage Corporation is not a suitable body, farmers do not want to go on paying five per cent. for short-teim credit? Why is it that something really intelligent cannot be done?