§ Mr. Knoxasked the Minister for Agriculture, Fisheries and Food if he will indicate the effects of the recently announced increases in common agricultural policy prices on the Supply Estimates for 1982–83.
§ Mr. Peter WalkerSince the Supply Estimates were prepared, a number of changes have taken price in market prices, levels of production, exchange rates and trade volumes. Revised forecasts for 1982–83 have taken account of these changes as well as the effects of the new common agricultural policy prices. Further market developments are likely to affect the figures before Supplementary Estimates are presented. Most of the relevant expenditure is funded from the Community budget. As a result, despite the large variations forecast for individual items of expenditure and receipts, total net expenditure is affected for only two sections—A and B of Class III(1). The common agricultural policy price fixing is estimated to add about £4.8 million to net requirements. A table showing the detailed forecasts of the effects on Estimates is being placed in the Library of the House.