§ Mr. Mylesasked the Minister of Agriculture, Fisheries and Food if he will announce the guaranteed price for wool for 1982–83.
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§ Mr. Peter WalkerIn determining the guaranteed price for wool, the Government have to balance the increasing costs facing wool producers against the stabilisation principle which underlies the guarantee arrangements. Because of weak market prices in the United Kingdom over the past 12 months, the stabilisation fund administered by the British Wool Marketing Board has moved further into deficit, requiring further Exchequer advances to the fund. In view of these developments, the Government have decided that the guaranteed price for wool will remain at its present level of 115p per kg for the marketing year beginning 1 May 1982.