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Eec Funds (South-West England)

Volume 889: debated on Monday 24 March 1975

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asked the Chancellor of the Exchequer what are the latest figures available for the financial benefits to the South-West assisted areas from EEC membership from the European Agricultural Guidance and Guarantee Fund, European Social Fund and European Investment Bank; and what percentage these financial amounts represent of the total benefit to the United Kingdom in each category.

Information on the financial benefits from the European Agricultural Guidance and Guarantee Fund and the European Social Fund to the South-West assisted areas is not separately available. During 1973 and 1974 the United Kingdom received about £175 million from the EAGGF for market regulation and restructuring under the common agricultural policy. Receipts from the European Social Fund during the same period amounted to about £16 million. In addition, there are commitments to pay the United Kingdom about £12 million from the guidance section of EAGGF, and the United Kingdom has also been allocated further sums from the European Social Fund.The South-West assisted areas have not received any loans from the European Investment Bank, but the bank has to date made loans totalling £136 million to United Kingdom organisations.