§ Mr. Joplingasked the Minister of Agriculture, Fisheries and Food if he will list in the Official Report the six-monthly average daily payments by the European Community in the form of monetary compensatory amounts of foodstuffs to the United Kingdom since the signing of the Treaty of Accession.
§ Mr. John SilkinThe six-monthly average daily payments from the European Agricultural Guidance and Guarantee Fund on the monetary compensatory 419W amounts on imports into the United Kingdom are given below for the periods shown:
- July-December 1973—£114,065
- January-June 1974—£131,606
- July-December 1974—£189,701
- January-June 1975—£467,494
- July-December 1975—£649,084
- January-June 1976—£399,118
- July-December 1976—£1.20 million
- January-June 1977—£1.35 million
- July-December 1977—£1.32 million
- January-March 1978—£1.17 million
Notes:
(1) The present system of MCAs was introduced on 4th June 1973.
(2) Figures for the period July 1973-June 1976 are based on payments made by the Intervention Board for Agricultural Produce.
(3) Figures for the period July 1976-March 1978 have been estimated from trade data because most United Kingdom MCAs on imports taking place after 17th May 1976 have been paid in the exporting member States.
(4) MCA statistics relate to intra-Community MCAs,and MCAs on third country trade where they result in a net import payment. They do not take account of MCAs deducted from third country levies where a positive net levy remains.
(5) The increase in United Kingdom MCAs in the past five years quoted reflects the choice in 1973 of the European Joint Float, which has appreciated by comparison with the average of all member currencies, as the basis of MCA calculations, and the increase over the period of the sterling value of intervention prices as well as the depreciation of sterling.