§ Mr. Deakinsasked the Chancellor of the Exchequer when a text giving guaranteed effect to the March decision of the European Council, concerning the relationship between growth in agricultural spending and in own resources, will be agreed; why no progress has been made since March; and in what forum the matter is to be discussed.
§ Mr. Ian StewartThe European Council invited the Council of Ministers so to proceed that the net expenditure relating to agricultural markets calculated on a three-yearly basis will increase less than the rate of growth of the own resources base and to adopt the measures necessary to guarantee the effective application of this principle. The timing and forum for future discussions of how this principle is to be implemented are primarily matters for the presidency. However, as the Prime Minister indicated in her statement on 27 June the issue is currently being considered by the Council of Finance Ministers.