§ Mr. Torneyasked the Minister of Agriculture, Fisheries and Food how much money was received from European Community funds—Guarantee Section of the European Agricultural Guidance and Guarantee Fund—in 1974 by the Intervention Board for Agricultural Produce; how this money was expended; and how much the Intervention Board spent on Exchequer account in connection with the common agricultural policy.
§ Mr. Bishop:In the year ended 31st December 1974 the Intervention Board received £111.8 million from the Guarantee Section of the European Agricultural Guidance and Guarantee Fund (FEOGA). This represented £113.6 million of direct expenditure and £1.1 million reimbursement of costs incurred by the board in intervention buying, storing and selling, less £2.9 million in respect of upward revaluation of intervention stocks of skimmed milk powder at the end of the year.
The main payments were export and import refunds on intra-Community trade —net of levies in that trade—£51.6 million; starch production subsidy, £14.9 million; general butter subsidy, FEOGA contribution, £11 million; special import subsidy on sugar, December only, £7.6 436W million. The board also spent £3.7 million on export and import refunds on third country trade; £3.4 million on denaturing of wheat for feedingstuffs—this subsidy was suspended from 14th February 1974; £5.4 million on other aids to animals feed—skimmed milk, skimmed milk powder and dehydrated fodder; £5.2 million on storage premiums for sugar, butter, beef, cereals and pigmeat; £4 million FEOGA contribution to beef premiums; £4.4 million on social butter and beef; £2.1 million on production subsidies other than starch; and £0.3 million on food aid.
In addition to this expenditure, the board collected two Community levies, £4.2 million on sugar marketings and £2.6 million on export levies on third country trade.
The board's expenditure on Exchequer account in connection with the common agricultural policy amounted to £65.5 million in 1974. This included £42.9 million Exchequer contribution to the general butter subsidy, the cost of which since April 1974 has been a final charge on the Vote of the Department of Prices and Consumer Protection, £17.8 million, Exchequer contribution to the beef premium schemes, and £4.6 million in connection with buying and storing intervention commodities. This last item includes the upward revaluation of skimmed milk powder stocks and most of its falls to be reimbursed in due course from Community funds.£4.3 million was realised by the Exchequer on the sale and disposal of stocks out of intervention.