§ Mr. Woofasked the Chancellor of the Exchequer what is the estimated revenue which will be produced by import levies in the year beginning 1st January 1975; how much of this will be retained by Her Majesty's Government; and how much will be passed on to the EEC budget.
§ Mr. Joel BarnettIt is estimated that the yield of agricultural levies in 1975 might be about £40 million. During the transitional period to 1977, the United Kingdom contribution to the EEC budget is determined not by the amounts of "own resources" collected in the United Kingdom, but by reference to a percentage of the budget expenditure specified in the Treaty of Accession. The proportion of agricultural levies collected in the United Kingdom which will be paid to the Community cannot therefore be estimated.