§ 25. Mr. Bulmer
asked the Minister of Agriculture, Fisheries and Food what steps he proposes to take to protect British pig producers from the consequences of the Government's refusal to revalue the green pound.
§ Mr. Bishop
Any increase in pig prices associated with a devaluation of the green pound would have to be set against an inevitable increase in feed costs. The interests of this sector would best be served by changing the way monetary compensatory amounts for pigmeat and pigmeat products are calculated. The European Commission intends to implement a proposal that will have the effect of reducing these amounts by 8 per cent. This will be helpful to our industry but does not fully meet our needs. My right hon. Friend's proposal for a more radical change is still under discussion and we will continue to press our case.