§ Mr. Teddy Taylor
asked the Chancellor of the Exchequer, pursuant to his reply to the hon. Member for Southend, East on 16 February, when he indicated that £157.9 million of the £470 million due by 31 March under the supplementary measures regulation of the EEC had been paid by 16 February, what are the procedures and timetable for the payment of the remaining £312.1 million by 31 march, and if he is satisfied with the progress made in implementing the supplementary measures regulation.
§ Mr. Lawson
[pursuant to his reply, 26 February 1981, c. 442]: The procedure governing the approval and payment of Community support under the supplementary measures scheme was set out in a written answer by my right hon. Friend the Lord Privy Seal on 27 October.—[Vol. 991, c. 96–99.] Under the arrangements agreed by the Council and the Commission on 7 October, the United Kingdom is due to receive before the end of March payments of at least 80 per cent. of its estimated gross entitlement of some 975 million ecus under the supplementary measures in respect of 1980. The payments already made to the United Kingdom represent the sterling equivalents of some 285 million ecus, and a balance of some 500 million ecus therefore remains to be paid before the end of March. At the exchange rate of 1 .65 ecus to the £ used in my right hon. Friend the Lord Privy Seal's statement, this is equivalent to a sterling amount of some £300 million. The precise sterling amount of this instalment will however depend on next month's exchange rate. I can confirm that progress so far in implementing the supplementary measures regulation has been satisfactory.