§ Mr. Crawfordasked the Minister of Agriculture, Fisheries and Food what proposals he has for ensuring that the effects of the revaluation of the green pound will be extended to cover grants paid to farmers under the farm and horticultural development scheme.
§ Mr. StrangThe procedure for applying changes in exchange rates to the agricultural structures policy has recently been set out in EEC Regulation 129/78. The effect of this is that amounts expressed in units of account in instruments relating to this policy will generally be converted into national currencies at the representative rate obtaining on 1st January of the year during which the decision to grant aid is taken. The recent devaluation will 553W thus be reflected in grants paid to farmers from 1st January 1979.