HC Deb 11 March 1986 vol 93 cc459-60W
Mr. Teddy Taylor

asked the Chancellor of the Exchequer, pursuant to his answer of 4 March, Official Report, column 95, what was the value of the dollar against the European currency unit on the date when the Council of Ministers agreed the financial guideline for agricultural market support expenditure in the current year, and what is the current value of the dollar against the European currency unit.

Mr. Brooke

[pursuant to his reply, 10 March 1986]: The reference framework for 1986, including the financial guideline for agricultural market support expenditure was established by the Council of Ministers on 8 July 1985. The dollar/ECU exchange rate on that day was $1=1.347 ECU. On 7 March 1986, the exchange rate was $1=1.041 ECU. The 1986 EC budget was prepared using an assumption of an exchange rate of $1=1.20 ECU.