§ Mr. Spearingasked the Minister of Agriculture, Fisheries and Food, what estimate he has made of the likely fall in United Kingdom consumption of liquid milk when the subsidy is removed; and what plans he has made for the disposal of the resultant surplus.
§ Mr. PeartIt is not possible to forecast market developments, which will be influenced by many factors, including
£ per live cwt. United Kingdom Clean Cattle 1st January 1972 1st November 1974 1st May 1975 Market price (average price for the week containing these days) … … … … 12.60 12.79 21.82 Guaranteed Prices/Target Price … … 12.34 — 23.20 Intervention Price United Kingdom (transitional) … … … … … — — 22.85‡§ Intervention Price EEC (full) … … 14.17* 23.87† 25.75‡ The current EEC and United Kingdom intervention prices are those agreed for the 1975–76 beef marketing year. No proposals have yet been made for intervention prices thereafter. * Converted at £1=2.4 u/a. † Converted at £1=2.0053 u/a. ‡ Converted at £1=1.96178 u/a. § Subject to deduction of the value of beef premium payable at the date of slaughter.