HC Deb 22 October 1975 vol 898 c200W
Mr. Hooley

asked the Minister of Agriculture, Fisheries and Food what will be the additional charge on the balance of payments in the 12 months from 1st October 1975 as a result of the devaluation of the green pound he announced on 15th October.

Mr. Bishop

No precise estimate is possible. The best guess that can be made is that United Kingdom net receipts from Community funds in the period mentioned may be lower by about £45 million as a result of the representative rate change. Increases in United Kingdom agricultural production would, by reducing our food import requirement, improve the balance of payments.

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