§ 43. Mr. John Evans
asked the Minister of Agriculture, Fisheries and Food what will be the effect on the United Kingdom's contribution to the EEC budget of the recent common agricultural policy price review.
§ Mr. Peter Walker
Based on the latest information given by the Commission the cost of the CAP prices settlement is as follows:
£million the 1½ per cent. increases plus the changes in the German and Benelux Green rate 63 the 1½ per cent. green franc devaluation 51 increase in milk powder subsidy 44 increased butter subsidy 182 other changes in the milk sector, such as school milk 8 other increases mainly on aids on processed fruit and vegetables 24 372 the 5 per cent. green pound devaluation—minus 74 298
Britain will have to meet 161 per cent. of this total which is its marginal contribution to the CAP which will amount to £49 million.
The benefits to the United Kingdom in financial terms will be:
£million the butter subsidy 65 school milk subsidy 4 extra receipts due to the green pound devaluation 14 83