HC Deb 09 February 1978 vol 943 cc647-8W
Mr. Hooley

asked the Secretary of State for Trade whether Her Majesty's Government intend to follow the example of the Government of the Netherlands and pledge an initial contribution of 25 million dollars to a common fund for commodities.

Mr. Meacher

As proposed by the developed countries collectively at the outset of the second session of the common fund conference, the fund's buffer stocking facility should in our view be based on cash deposits form countries as members of international commodity agreements, and on market borrowing, rather than on direct contributions from the fund's own member Governments.

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