HC Deb 09 November 1978 vol 957 cc305-6W
Mr. Spearing

asked the Minister of Agriculture, Fisheries and Food by what percentage the green value of each currency varies from (a) the agricultural unit of account and (b) the European unit of account, assuming in both cases that the monetary co-efficient is based on the latest market rates of exchange.

Mr. Bishop

Column I in the following table shows the percentage upon which the monetary compensatory amounts applicable from 6th November were based. Column II shows the percentage difference between the representative rate of each country and average market rates of exchange with the EUA in the period 25th to 31st October, the reference period taken into account in determining these monetary compensatory amounts.

Column I Column II
Belgium and Luxembourg +3.3 +20.3
Netherlands +3.3 +20.2
Denmark Nil + 18.9
Germany + 10.8 +26.6
France -121 +7.3
Ireland -6.6 + 12.5
Italy -19.7 + 1.8
United Kingdom -32.3 -8.6

The mca percentages applied in this period by France, Ireland, Italy and the United Kingdom were each 1.5 percentage points less than the percentage shown in column I.