§ Lord O'HAGANasked Her Majesty's Government:
To define the "green pound" and explain its purpose.
§ Lord STRABOLGIThe "green pound" is the popular name for the representative rate for the pound sterling. This is currently defined by EEC Regulation No. 557/76 as £1=1.75560 units of account. Its purpose is to provide a means of conversion for the operation of the Common Agricultural Policy between sterling and the unit of account.