§ Mr. Pymasked the Minister of Agriculture, Fisheries and Food if the 14 per 569W cent. fall in total agricultural production was calculated by him by subtracting the rate of inflation from the gross output, or by assessing the total volume of production in 1975 relative to 1974.
§ Mr. BishopParagraph 3 of the 1976 Annual Review White Paper (Cmnd 6392) stated that the net product of United Kingdom agriculture at constant prices was forecast to fall by about 14 per cent. in 1975–76. The industry's net product is calculated by deducting from the industry's gross output the inputs used by agriculture, making an allowance for stock changes. In calculating the industry's net product at constant prices for the purposes of the Review, all outputs and inputs were valued at the average of 1968–69−1971–72.