§ Mr. JackTo ask the Minister of Agriculture, Fisheries and Food if he will make a statement describing the workings of the agrimonetary regime for EU member states who do not join its single currency in the first wave. [25246]
Dr. John Cunningham[holding answer 26 January 1998]: The European Commission will need to make proposals to the Agriculture Council this year for agrimonetary arrangements to apply after the start of the Single Currency. They have indicated their intention to make proposals in May or June. We intend to discuss the options with all interested organisations. A key aim for the UK in the negotiations will be ensuring equitable treatment of the different groups of Member States involved.
§ Mr. JackTo ask the Minister of Agriculture, Fisheries and Food what has been the cost to public funds of each package of agrimonetary compensations claimed by other member states of the EU under the terms of the current agrimonetary regime. [25248]
Dr. John Cunningham[holding answer 26 January 1998]: Other EU Member States have paid around 650 MECU in agrimonetary compensation so far, of which 460 MECU has been reimbursed from the CAP budget. The UK's net contribution to this spending, as to all new EU spending in other Member State, will be around 5 per cent.