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Mr. Spearing
asked the Minister of Agriculture, Fisheries and Food, what estimate he has made of the likely fall in United Kingdom consumption of liquid milk when the subsidy is removed; and what plans he has made for the disposal of the resultant surplus.
Mr. Peart
It is not possible to forecast market developments, which will be influenced by many factors, including
| £ per live cwt. | ||||||||
| United Kingdom Clean Cattle | 1st January 1972 | 1st November 1974 | 1st May 1975 | |||||
| Market price (average price for the week containing these days) | … | … | … | … | 12·60 | 12·79 | 21·82 | |
| Guaranteed Prices/Target Price | … | … | 12·34 | — | 23·20 | |||
| Intervention Price United Kingdom (transitional) | … | … | … | … | … | — | — | 22·85‡§ |
| Intervention Price EEC (full) | … | … | 14·17* | 23·87† | 25·75‡ | |||
| The current EEC and United Kingdom intervention prices are those agreed for the 1975–76 beef marketing year. No proposals have yet been made for intervention prices thereafter. | ||||||||
| * Converted at £1=2·4 u/a. | ||||||||
| † Converted at £1=2·0053 u/a. | ||||||||
| ‡ Converted at £1=1·96178 u/a. | ||||||||
| § Subject to deduction of the value of beef premium payable at the date of slaughter. | ||||||||