§ Mr. Joplingasked the Minister of Agriculture, Fisheries and Food whether he will give an assurance that with the increase in the beef intervention price, from 5th January 1976, there will also be a comparable rise in the target price.
§ Mr. PeartI have considered, together with my colleagues, the Secretaries of State for Scotland, Northern Ireland and Wales, the implication of the green pound changes announced on 15th October for the target prices for beef in January and February 1976. We have decided that there should be no change from those announced on 24th July, that is, £24.60 per live hundredweight for January and £25.75 per live hundredweight for February.
122WDuring this year United Kingdom target prices, which are set in sterling terms and are not directly linked to the United Kingdom representative rate, have been intended to give producers stable returns around £22.85 per live hundredweight. This is also the current level of United Kingdom buying-in prices for intervention. The monthly target prices reflect the seasonal pattern of marketing in the United Kingdom; this applies to the prices already announced for next January and February, which are considerably above £22.85.
We recognise that producers need an assurance that target prices after February will continue to offer an incentive to orderly marketing. Given that the present beef arrangements continue, target prices will be adjusted to increase from the February level of £25.75 to the normal seasonal peak in May. I cannot anticipate decisions in the 1976 CAP Price Review but I am determined to retain satisfactory arrangements. In any case, from March the intervention level will reflect both the latest green pound adjustment and the transitional step of £1.08 per live hundredweight. It will be my aim to set a new seasonal scale related to this higher level of Community support.