§ Mr. Jayasked the Minister of Agriculture, Fisheries and Food what revision he estimates should be made, in view of the devaluation of sterling, in the figure of £175 million to £250 million a year given by him in column 1413 of the Official Report for 9th May, 1967 as the cost to the United Kingdom balance of payments of higher food import prices and levy payments to the European Economic Community, in the event of the United Kingdom joining the European Economic Community.
§ Mr. PeartIt will not be possible to make any reliable revised estimate of this cost until the implications of devaluation for the levels of world commodity prices and for agricultural production and the pattern of food consumption in the U.K. become more clear.