§ Mr. Joplingasked the Minister of Agriculture, Fisheries and Food whether he will give an estimate of the amount of money which will be available to farmers for reinvestment in agriculture as a result of the recent Price Review Award.
§ Mr. PeartThe Review award added £25 million to the total value of the guarantees. This not only recouped the industry fully for the assessed cost increases of £15; million, but also left it the benefit of the whole of its increase in productivity and a further £10 million. In recent years, the annual rate of capital investment in agriculture (including increases in working capital) has been about £200 million to £220 million. The capital injection at this year's Review provides a substantial sum for additional investment, but no precise estimate can be made since farm income in the coming year will be affected by other factors besides the Review determination.