Common Agricultural Policy

HC Deb 08 June 1995 vol 261 c312W

25. Mr. Clapham

To ask the Minister of Agriculture, Fisheries and Food what will be the total cost of the common agriculture policy in 1996. [25837]

Mr. Waldegrave

The 1996 preliminary draft budget for common agricultural policy expenditure has been set at the level of the guideline of 40.8 billion ecu or £33.9 billion. If it proves necessary, the budgetary discipline decision provides for access to the monetary reserve of 500 mecu or £415 million for additional costs resulting from a weakening of the US dollar of from realignments of the exchange rate mechanism which took place in late 1992 and early 1993. In addition, the CAP also imposes a cost on consumers. A note on the impact on consumers and taxpayers is available in the Library.