§ Mr. Teddy TaylorTo ask the Prime Minister if she will make a statement outlining the procedures contained in the February European Council agreement to ensure that the proposed agricultural guidelines of expenditure are not breached.
§ The Prime MinisterThere are several regulations now in place to reinforce the guideline. Stabilisers have been introduced for the main commodities. An early warning system has been set up to provide monthly reports on expenditure trends for each commodity with a requirement on the Commission and Council to take appropriate counter measures if an overspend threatens. Depreciation must take place regularly to prevent a build-up of overvalued stocks. Finally the annual price-fixing settlement must respect the guideline.