§ Mr. MacGregorasked the Minister of Agriculture, Fisheries and Food what was the gap between the green pound and the real market rate for the £ sterling (a) 12 months ago following the last adjustment, (b) six months ago, (c) on 14th September 1976 and (d) at the latest available date.
§ Mr. BishopThe percentages used for calculating the monetary compensatory amounts (MCAs) applicable on the dates listed are shown below:
(a) 27th October 1975 … … 6.4 (b) 27th April 1976 … … 17.4 (c) 14th September 1976 … … 22.7 (d) 27th October 1976 … … 37.3 (a) Until 14th March 1976 the percentage difference between the representative rate (green pound) and the market rate of exchange as defined for MCA purposes was reduced by 1.25 percentage points for the purposes of calculation of MCAs. Since 15th March 1975 this deduction has been 1.5 percentage points. The figures in the table are net of these deductions. (b) The current representative rate did not take effect for cereals—except common wheat—eggs and poultry until 3rd November 1976, the beef sector until 5th January 1976 and for common wheat until 1st July 1976. Whilst a previous rate continued to apply, different percentages operated for MCA purposes. (c) The monetary compensatory amount percentage applicable in any given week is normally based on the performance of sterling against the Community currencies in the joint float during the five working days ending on the previous Tuesday.