§ Mr. RedmondTo ask the Minister of Agriculture, Fisheries and Food what level of allowance the Intervention Board sets when(a) a lessee and (b) a transferee acquires a multi-lot milk quota transfer from the same (i) leasor and (ii) transferor; and if he will make a statement. [40893]
§ Mr. BaldryThe Intervention Board has informed milk producers, purchasers and quota agents of its intention to round calculations of permanent butterfat percentages in transfers or leases of milk quota to six places of decimal. This change will take effect from 1 April 1997. In the meantime, transfers and leases presented in multi-lotted form, which the board considers will have the effect of achieving a higher butterfat percentage than would have arisen from a single lot movement of the same quantity, will have the individual transactions rounded to six places of decimal at each stage and the final figure to two places. This measure is necessary to ensure that the butterfat level of the national quota is not distorted in a way which would leave the United Kingdom open to financial correction of its accounts by the European Commission.
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