§ 16. Mr. William Hamiltonasked the Minister of Agriculture, Fisheries and Food if he will make a statement on the consequences for British consumers of the acceptance of the European Economic Community Commission's price proposals in the next financial year.
§ Mr. Peter WalkerIt is estimated that the effect of the settlement will be to add to consumers' expenditure in a full year the equivalent of less than a quarter of 1 per cent. on the retail price index. Because some price increases do not take place for some time, and because of delays before the effects work through, the full impact on consumers' expenditure will not be felt in the financial year 1981–82.
§ 17. Mr. Nicholas Wintertonasked the Minister of Agriculture, Fisheries and Food when he next intends to meet representatives of the National Farmers Union to discuss the implications for British farmers as a result of the agreements on agricultural produce prices reached on Wednesday 1 April with his European counterparts.
§ Mr. Peter WalkerI keep in close touch with representatives of the National Farmers Union, but have no plans for a special meeting on the price-fixing settlement.
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§ 18. Mr. Ioan Evansasked the Minister of Agriculture, Fisheries and Food what is the latest estimated cost to the United Kingdom of the common agricultural policy of the European Economic Community.
§ Mr. Peter WalkerFollowing the method outlined in Government Economic Service working paper No. 27, the net effect of the common agricultural policy on the United Kingdom balance of payments in 1979, the last year for which full information is so far availble, is estimated to have been of the order of £1,100 million. For 1980 and 1981 the agreement negotiated in May 1980 on our budget contribution will of course operate to lower significantly the balance of payments cost of Community membership.