HC Deb 08 February 1979 vol 962 c233W
31. Mr. Henderson

asked the Minister of Agriculture, Fisheries and Food what proposals he has made to his EEC counterparts for changing the method of calculating monetary compensatory amounts.

Mr. Strang

My right hon. Friend the Minister supports the Commission's proposal that, with the adoption of a European monetary system, the ECU should be used in agriculture, thereby replacing the existing unrepresentative unit of account at present used for calculating MCAs. He is continuing to press for further improvements in the calculation of pigmeat MCAs, in order to reduce the level of subsidy on pigmeat products imported into the United Kingdom.

44. Mr. Madden

asked the Minister of Agriculture, Fisheries and Food by how much British food prices would increase if MCAs were to be withdrawn by the Common Market.

Mr. Strang

At current exchange rates a devaluation of the green pound sufficient to remove the whole of the United Kingdom's MCA would increase the food price index by about 5 to 6 per cent.