Agrimonetary Compensatory Amounts (Hansard, 27 October 1998)

§ Mr. Rooker

It is not possible to split the agrimonetary compensatory amounts into periods as specified in the question. The total amount that was available to the UK over the period in question is around £958 million, half of which could be reclaimed from the EU budget. This is broken down in the table. The bulk of this compensation was generated by green pound revaluations in 1997.

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On 18 December 1997 we announced our intention to access some £85 million of this aid. Payment of this compensation has now been made, with £72.5 million of the aid resulting from the four revaluations of 1997 being paid to suckler cow producers, and £12.5 million being paid to sheep producers to compensate for the drop in their 1998 SAPS payments.

Table showing agrimonetary compensation available to the UK over the period from 1997 to date
£million
		First year compensation¹	Second year compensation
Trigger event	Deadline for initial notification to commission	Payable	Eufunded	Payable	EU funded
Revaluation of 21 January 1997	31 January 1998	²131	²65.5	87.3	43.7
Revaluation of 29 March 1997	31 March 1998	²123	²61.5	82	41
Revaluation of 5 June 1997	30 June 1998	²98.6	²49.3	65.7	32.9
Direct Payments (arable aid) 1997	31 December 1997	53.4	26.7	nil	nil
Direct Payment (flax and hemp) 1997	31 January 1998	0.4	0.2	nil	nil
Revaluation of 21 August 1997	31 August 1998	²112	²56	74.6	37.3
Direct payments (livestock, agri-environment and structural) for 1998	30 June 1998	²37.9	²19	nil	nil
Revaluation of 3 May 1998	31 May 1998	1.5	0.7	0.7	0.3
Direct payments (arable aid)1998	31 December 1998	89.2	44.6	nil	nil
Direct payments (flax and hemp) 1998	31 January 1999	0.9	0.5	nil	nil
Sub total		647.9	310.3
Total over both periods		958.2
¹ i.e. during the first 12 month period following the trigger event
² Package of aid which was partly accessed to fund the £85 million aid to live stock producers in early 1998