§ Mr. Leadbitterasked the Secretary of State for Trade and Industry if he will make a statement on the EEC budget proposals for coal and steel, the effect of the conversion of Great Britain's contribution to units of account taking the devaluation of the £ sterling into account, and, expressed in the currencies of the member countries, the percentage increase of contributions to the budget.
§ Mr. EmeryThe operation of the ECSC is financed by means of levies on the coal and steel industries of member States, and separately from the main budget of the European Communities. 169W The Commission has proposed a changed method for calculating conversion rates between the ECSC unit of account and national currencies when determining levy contributions; these proposals are still under consideration.