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Credit Facilities (Farmers)

Volume 441: debated on Tuesday 29 July 1947

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asked the Chancellor of the Exchequer whether, in view of the dollar shortage, he will make arrangements through the recognised banks and their branches, which in the past have given overdraft facilities to farmers, to provide £50,000,000 at 2½ per cent. interest, both principal and interest to be guaranteed by His Majesty's Treasury, the purpose of the loan being to provide for new tractors and general farming machinery in order to increase output on the land.