§ Mr. Hurdasked the Minister of Agriculture, Fisheries and Food the estimated total of the subsidy on phosphatic and nitrogenous fertilisers this year; to what extent this subsidy results in the cost of fertilisers to British farmers being reduced below the cost of similar fertilisers at world prices; and what check he keeps on the profit margins taken by the fertiliser manufacturers.
§ Mr. NugentThe estimated total cost of the fertiliser subsidy in the current fertiliser year (July to June) is about £16 million. The initial costs of phosphatic fertilisers to British farmers are broadly in line with world prices, and those of nitrogenous fertilisers are a little below world prices, so that after recovery of the subsidy, the net costs of both are substantially less. Payment of the subsidy does not involve control over fertiliser production or costs. I would remind my180W hon. Friend that this industry has been referred to the Monopolies Commission for investigation.