§ Mr. Ralph Howellasked the Minister of Agriculture, Fisheries and Food what is the percentage by which the £ sterling was devalued in relation to the green pound at the latest date for which this information is available and at 1st January 1976, 1st January 1975 and 1st January 1974.
§ Mr. BishopThe percentage used for calculating the monetary compensatory amounts (MCAs) applicable on the dates listed are shown in the following table:
From 15th March 1976 this deduction is 1–5 percentage points. The figures in the table are net of these deductions.
The current representative rate did not take effect for the beef sector until 5th January 1976 or for common wheat until 1st July 1976.