§ Mr. Morganasked the Minister of Agriculture, Fisheries and Food for what period of time negative monetary compensatory amounts were applied to imports and exports by reason of the green pound exchange rate being greater than the market rate of exchange; and what was the greatest fall of the market rate, in percentage terms, during the period by comparison with the green rate.
§ Mr. Buchanan-SmithNegative monetary compensatory amounts applied as levies on United Kingdom exports and as subsidies on imports from 15 February 1973 to 27 January 1980 in all sectors except in the cereals, eggs and poultry sectors, where they applied until 31 July 1980. During November 1976 the gap between the green pound and the sterling market rate rose to 46.5 per cent., its highest ever, giving an applied negative United Kingdom MCA of 45 per cent.