§ Mr. Colin Shepherdasked the Minister of Agriculture, Fisheries and Food if he will publish a table showing the effects on Supply Estimates of the decisions on common agricultural prices for 1984–85.
§ Mr. JoplingSince the Supply Estimates of the Intervention Board for Agricultural Produce were prepared a number of changes have taken place in market prices, levels of production, exchange rates and trade volumes. Revised forecasts for 1984–85 have to take account of these changes as well as the effects of the decisions taken in the common agricultural policy price fixing agreement. Most of the relevant expenditure is funded from the Community budget although expenditure on intervention purchases is not recouped until the goods are sold. As a result total net expenditure is forecast to change in only two sections (A and C of Class III. 1). The common agricultural policy price fixing is estimated to reduce the net call on Exchequer funds by about £25 million, as indicated in the following table:
*Net expenditure Receipts from Community £m Exchequer expenditure A. Supply Estimate 1984–85 1,321 -995 327 B. Forecast before price fixing 1,214 -1,050 164 C. Forecast after price fixing †1,161 -1,022 †l39 D. Effect of price fixing (C-B) -53 +28 -25 * Before allowing for receipts from the community. † Including £13 million for increase in exchequer payments under the suckler cow premium scheme.