February 21, 1957 (22nd Parliament, 5th Session)

CCF

Hazen Robert Argue

Co-operative Commonwealth Federation (C.C.F.)

Mr. Argue:

I wonder whether the government has considered the presentation of the federation of agriculture on the very matter to which the parliamentary assistant has now referred. They ask that the loan percentage be increased from the present limit of 65 per cent on a first mortgage to 90 per cent in certain instances. They have asked that there be a sliding scale ranging from 65 per cent to 90 per cent.
While the statement of the parliamentary assistant is correct as to the maximum amount of money that may be obtained under the National Housing Act being less than the maximum amount obtainable from the farm loan board, the fact remains, as the Canadian Federation of Agriculture has stated in its brief, that the percentage of the appraised value that may be obtained under the National Housing Act is considerably higher than the percentage that may be obtained through the Canadian farm loan board.

Topic:   AMENDMENT TO INCREASE AUTHORIZED CAPITAL OF BOARD
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