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Agriculture: Borrowing

Volume 692: debated on Thursday 24 May 2007

asked Her Majesty's Government:

What was the United Kingdom agricultural industry's annual total borrowing for the year 2000 to 2006 inclusive. [HL3907]

The total liabilities for the United Kingdom farming industry as at December for the years 2000 to 2005 are given in the following table. Note that estimates for December 2006 are not yet available and will be published in March 2008.

Liabilities for the UK farming industry

As at December each year

£ million

2000

2001

2002

2003

2004

2005 (provisional)

Liabilities

Long and medium-term:

AMC and SASC (a)

1,377

1,339

1,334

1,313

1,317

1,363

Building societies and institutions

396

379

389

460

474

457

Bank loans

2,367

2,202

2,284

2,435

2,371

2,403

Family loans

430

449

450

529

531

538

Other

232

248

271

263

260

338

Total long and medium-term

4,802

4,617

4,728

5,000

4,954

5,099

Short-term:

Leasing

95

94

113

130

139

121

Hire purchase

479

517

593

724

695

602

Trade credit

1,250

1,193

1,238

1,423

1,325

1,388

Bank overdrafts

3,015

2,814

2,991

2,949

2,869

3,485

Other

114

118

128

120

134

128

Total short-term

4,953

4,735

5,063

5,347

5,163

5,726

10

10

Total liabilities

9,755

9,352

9,790

347

117

10,825

(a) Agricultural Mortgage Corporation (AMC) and Scottish Agricultural Securities Corporation (SASC).

Source: Agriculture in the United Kingdom 2006, table 9.3