§ Mr. Wm. Rossasked the Secretary of State for Northern Ireland what was the estimated net farm profit for Northern Ireland in each of the last four years or financial years, including the estimate for 1980–81, if possible, in real and cash terms, taking 1977–78 as 100.
§ Mr. Adam Butler"Net farm profit" is taken to mean the aggregate net income of farmers, excluding stock appreciation, as published by the Department of Agriculture for Northern Ireland and should not be confused with "cash" income. Estimates for the years 1977 to 1979 together with an index in "real" terms—1977=100—are as follows:
Estimates of Net Income (£m) Index in "Real" Terms* 1977 69.2 100 1978 64.4 86 1979 33.5 39 * Value of net income deflated using United Kingdom general index of retail prices rebased to 1977=100. In October-November 1980 in preparation for the United Kingdom annual review of agriculture, net income for Northern Ireland in 1980, was forecast at £8.5 million. A revised estimate is currently being prepared and, although likely to be somewhat higher than the forecast, will still be substantially below that for 1979.