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Green Pound

Volume 172: debated on Thursday 17 May 1990

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15.

To ask the Minister of Agriculture, Fisheries and Food what effect the announcement of the green pound devaluation will have on farm incomes in 1990–91.

As I have indicated, the decisions on farm prices for 1990–91 should add at least £500 million to farmers' returns in the United Kingdom in a full year. Most of this increase is due to the devaluations agreed for the green pound.

16.

To ask the Minister of Agriculture, Fisheries and Food by how much the gross income of a farmer growing 200 acres of wheat at 3 tonnes per acre will increase as a result of the green pound devaluation.

41.

To ask the Minister of Agriculture, Fisheries and Food what effect he estimates will arise from the green pound devaluation for cereals.

The recently agreed green pound devaluation, taken in isolation, will increase cereal support prices in the United Kingdom by 10·7 per cent. at the start of the next marketing year. What this means for the income of the individual farmer will, of course, depend upon a number of factors. Prices received by producers are dependent, for example, on local supply and demand and the size and quality of the harvest, as well as the level of support prices.

28.

To ask the Minister of Agriculture, Fisheries and Food what effect the green pound devaluation will have on beef producers.

The Agriculture Council agreed a devaluation of the green pound for beef to take effect on 14 May. It will benefit beef producers in a number of ways. It will raise the beef special premium from £29·32 to £31·81; it will increase support from intervention; and, by reducing monetary compensatory amounts by over £40 for an average beast, it will reduce the payment on beef imports and help to stimulate exports. These measures should contribute to producers' returns, and improve price in the beef market.

20.

To ask the Minister of Agriculture, Fisheries and Food by what date green pound monetary gaps will be eliminated.

I refer my hon. Friend to the reply which I gave earlier today to my hon. Friend the Member for Devon, North (Mr. Speller).