§ 39. Mr. Tom Coxasked the Minister of Agriculture, Fisheries and Food what was the total amount spent on intervention in 1985–86; and what proportion of this was recovered from European funds.
§ Mr. JoplingUnited Kingdom expenditure on all aspects of intervention was £823 million net of recovery of VAT and of sales receipts, some of which will have related to produce purchased in earlier years, of £163 million. The Community does not meet the cost of purchases, but does contribute towards the financing cost of the stocks held, losses on sale, devaluation of stocks and storage and related costs. These contributions amounted to £310 million of which £75 million was for financing.