asked the Minsiter for Agriculture if he is aware of the economic and rural welfare research centre survey carried out in the autumn of 1983 which indicated that less than 24 per cent of farms have investment plans for 1984 compared with 51 per cent in 1978; and the steps he proposes to take in the matter.
Written Answers. - Farm Investment.
252.
The 1978 figure quoted for planned investments preceded the largest annual investment ever by farmers and is not really representative. The major fall in investment intentions took place in 1979 and 1980 and the position has stabilised since then.
Since the survey was carried out I have, of course, re-introduced the farm modernisation scheme which provides grant aids for farm investments, and this will undoubtedly have a positive impact on the level of investment undertaken by farmers.