§ 42. Mr. Ralph Howellasked the Minister of Agriculture, Fisheries and Food what he estimates to have been the effect of the valuation of the agricultural pound on British farm prices compared with EEC farm prices; and if he will seek to have revalued the agricultural pound so that it more closely relates to the value of the pound sterling.
§ Mr. Peart:The difference between the representative rate for the pound and its market value has varied widely over the last two years. No worthwhile estimate can, therefore, be made of the kind which the hon. Member has in mind. The representative rate was brought closer to the market rate by changes agreed in October 1974 and February 1975. The rate will continue to be kept under review.