HC Deb 06 February 1978 vol 943 cc456-7W
Mr. Jopling

asked the Minister of Agriculture, Fisheries and Food, further to his reply of Friday 27th January, that the effects on the retail index of green pound devaluations of 5 per cent. and 7½ per cent. were about one-quarter of 1 per cent. and about one-third of 1 per cent., respectively, leaving a balance of about one-twelfth of 1 per cent., what is his estimate of the actual cost of this to an average household per week.

Mr. John Silkin

About 10p. But the relevant comparison is between the phased 7½ per cent. devaluation I secured and an immediate across-the-board devaluation of 7½ per cent. which the Opposition advocated. My settlement will save each family £3.

Mr. Jopling

asked the Minister of Agriculture, Fisheries and Food what are the effective increased rates of devaluation of the green pound in the pigmeat and beef sector which are caused by deferring until August the 7½ per cent. devaluation in the cereals sector.

Mr. John Silkin

I estimate that the deferment of the devaluation for cereals is equivalent to about 2 per cent to 2½ per cent. extra on pig producers' prices and about ½ per cent. extra on beef producers' prices.

Mr. Jopling

asked the Minister of Agriculture, Fisheries and Food what steps he intends to take to alter the target prices for beef for the remainder of the 1977–78 livestock year in view of the five per cent. devaluation of the green pound in the beef sector.

Mr. Bishop

Details of the increases that are being made in the seasonal target prices for beef to the end of March 1978 to take account of the five per cent. devaluation of the green pound were announced in a Press notice issued by my Department on Wednesday 1st February. The revised scale is as follows:

Week Commencing 1978 Pence per live Kilogram
30th January 63.75
6th February 64.75
13th February 64.95
20th February 65.15
27th February 65.35
6th March 65.55
13th March 65.75
20th March 65.95
27th March 66.15

The ceiling on the amount of premium payable in any week has also been increased, from 5.74p to 6.04p per live kg.