HC Deb 07 February 1978 vol 943 c513W
Mr. Arthur Lewis

asked the Minister of Agriculture, Fisheries and Food whether he will give as much information as possible, showing to what extent a farmer's income is likely to be improved with a 5 per cent. and 7½ per cent. devaluation of the green pound if the farmer had 138 acres, 68 Friesian cows producing an estimated 1,500 pints of milk per day and 80 acres of barley producing 120 tons a year; and, on the details sent to him from the hon. Member for Newham, North-West, to what extent farmers generally will benefit on the same basis as quoted by the hon. Member.

Mr. Bishop

A 5 per cent. devaluation of the green pound, as the Government recommended, would raise farmers' returns in a full year, net of feed costs, but taking no account of changes in production costs arising during the year, by about £110 million. The corresponding figures for a 7½ per cent. devaluation is about £160 million. I cannot, however, estimate the effects on any individual farm since this depends on many factors including the precise structure of costs and patterns of production.

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