§ Mr. Spearingasked the Minister of Agriculture, Fisheries and Food in what manner he expects the recently announced support for butter prices to be applied; and if he expects a reduction in the price of all retail butter, or only that from sources subject to the common agricultural policy.
§ Mr. BishopThe intervention price of butter was raised to £1,141.72 per tonne (80 per cent. butter) on 1st May, but owing to the high level of commercial stocks in this country first-hand prices are not expected to reflect this increase fully for some time. The subsidy on butter of 8.52p per lb, which came into effect on 1st May, applies to butter from all sources and will be payable on butter for retail sale packeted on or after 1st May and on stocks in the hands of wholesalers on that date, also destined for retail sale. As a result of this subsidy widespread price reductions have already been reported.