HC Deb 26 February 1976 vol 906 cc611-2
15. Mr. Brotherton

asked the Minister of Agriculture, Fisheries and Food when he expects to make a further revaluation of the green pound.

Mr. Peart

I am continuing to keep the level of the green pound under review, having regard to the interests of both producers and consumers.

Mr. Brotherton

Is the Minister aware of the continuing concern in the farming industry about the valuation of the green pound? What is he going to do to bring the value of the green pound into line with the pound sterling?

Mr. Peart

Since October 1974 I have obtained changes from the Community on four occasions. It is not contemplated that there will be any change in the forthcoming price review negotiations.

Mr. Jopling

As the latest figures show a fall in the sheep and cattle herds, with the dairy herd down by 5 per cent. and the beef herd by 7½ per cent., will the Minister stop this decline by revaluing the green pound?

Mr. Peart

I moved very quickly on this matter, unlike my predecessors, and I am anxious in the negotiations to achieve something which will do more for the beef industry than a revaluation of the green pound—that is, to keep the variable premium system.

Mr. Wm. Ross

Is the Minister aware of the difficulties caused to Northern Ireland agriculture by the different values of the Irish and the sterling green pound? Is he examining the alleged racket of double payment of beef premium on cattle exported to Eire?

Mr. Peart

The hon. Member takes an interest in these matters and will know that I recognise the importance of the Northern Ireland industry and its contribution to United Kingdom agricultural production: I cannot say when there will be a further change in the value of the green pound, but I will watch the matter carefully and I recognise that it could have a serious effect on Northern Ireland's trade.