§ Mr. Austin Mitchellasked the Minister of Agriculture, Fisheries and Food if he will estimate the effect on United Kingdom output of the products subject to the common agricultural policy of a reduction in prices of 6 per cent.
§ Mr. MacGregorThe immediate impact might be to reduce aggregate agricultural output, net of purchased feedingstuffs, by some £400 million in a full year, compared with the value which might otherwise obtain. The longer-term effect would depend on the adjustments made by farmers, reflecting their individual circumstances, the subsequent movement of prices of both outputs and inputs and technological developments.