§ Sir Richard BodyTo ask the Minister of Agriculture, Fisheries and Food if he will estimate the cost of supporting existing farm incomes by a system of guaranteed prices instead of import levies.
§ Mr. CurryThe Organisation for Economic Cooperation and Development has estimated the value of total transfers to European Community farmers to be some 48 billion ecu in 1989: this gives an indication of the cost of administering all forms of support, including border protection, through a guaranteed price-deficiency payment system. This estimate covers the main products, which account for 75 per cent. of agricultural output, and is based on many assumptions, notably about "world" prices. Details are set out in "Agricultural Policies, Markets and Trade: Monitoring and Outlook 1990": OECD, Paris 1990.