§ Mr. Gouldasked the Minister of Agriculture, Fisheries and Food (1) by how much the cost of imported food will increase in the forthcoming year if the green pound is not devalued but the agreed staged increase in Common Market tariffs and levies takes place;
(2) by how much the cost of imported food would rise in the forthcoming year if the green pound were abolished, and the agreed staged increase in Common Market tariffs and levies took place.
§ Mr. BishopThe cost of imported food in the forthcoming year will depend upon many factors and I cannot predict the effects due to the alignment of United Kingdom customs duties and levies with those prescribed under the common customs tariff and common agricultural policy. The effects of aligning the green pound with the market rate of sterling depend on the future performance of the pound in the foreign exchanges which cannot be reliably predicted.