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Green Pound

Volume 124: debated on Thursday 17 December 1987

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To ask the Minister of Agriculture, Fisheries and Food what information he has as to the effect on (a) the beef sector, (b) the dairy sector and (c) the sheep sector of devaluations in the green pound and interest rate changes since December 1986.

Since December 1986, green pound devaluations have raised basic support prices by 11·8 per cent. in the beef sector, 4·7 per cent. in the dairy sector and 2·7 per cent. in the sheep sector. The effect on agricultural sectors of the 2½ per cent. decline in interest rates compared with December 1986 will be generally beneficial, but the effect on individual farmers will depend on their particular circumstances.