HC Deb 28 April 1958 vol 587 c4W
39. Mr. Slater

asked the Minister of Agriculture, Fisheries and Food if he will give the comparable figures of cost in agricultural subsidies and production grants for the years 1954–55, 1955–56, 1956–57 in accordance with the Annual Price Review; and how these compare with his estimates for 1958–59 bearing in mind the value of the £ as it stood in 1954 compared with its present value on the 1954 basis.

Mr. Godber

The cost of agricultural subsidies and production grants covered under the Annual Price Review was £191 million in 1954–55, £202 million in 1955–56, and £235 million in 1956–57. The comparable provision made in the Civil Estimates for 1958–59 amounts to £291 million, which is equivalent to £256 million at 1954 prices. This does not take account of the determination made after this year's Annual Review nor the subsequent reduction in the retail price of milk for five months this summer; the net effect of these is to reduce the estimated requirement by some £9 million.