asked the Minister for Agriculture if, in view of the uncertainty of the market for such produce as flax, oats, and potatoes, and in order to assist growers of these products to change over to intensive live-stock husbandry, he will introduce a scheme by which the State will guarantee loans for this purpose to farmers who need the capital and comply with reasonable conditions.
Ceisteanna—Questions. Oral Answers. - Loans to Farmers.
I do not propose to introduce a scheme of the kind mentioned by the Deputy, but, as the Deputy is aware, extensive credit facilities for this purpose are readily available from the Agricultural Credit Corporation, where adequate evidence of solvency and intention to repay is available on behalf of the would-be borrower.
Is the Minister aware that a considerable amount of capital is necessary to enable a farmer to change over from the growing of crops to the production of live stock and that, at the present time, there is no source of wealth available to the ordinary average farmer to finance such an operation? I have personal knowledge that the Agricultural Credit Corporation turned down applicants who offered a first charge on their farms as security. Surely, if a farm is worth £1,000 or £2,000 it ought to be sufficient security for a loan of £200 or £300.
If the Deputy will bring to my attention any individual case in which a farmer has adequate evidence of solvency and adequate evidence of his intention to repay, I will undertake to join with him in representations to the Agricultural Credit Corporation on behalf of such a would-be borrower. That is all, I think, it is fair to ask me to do at this stage. I am certain that if that evidence is forthcoming the credit will be readily available. I guarantee to the Deputy that if, in these circumstances, credit is not readily available I will then ask the Government to make alternative arrangements.
Would the Minister agree that the security of a farm worth £500 or £1,000 or £2,000 should be ample, if the deeds of the farm are offered to the Agricultural Credit Corporation, for a loan of less than half the value of the security?
Will the Deputy bring me the case he has in mind, and I will go into it with him?
Certainly.