Written question asked by Paul Marsden (Labour) on Tuesday, 15 February 2000, in the House of Commons. It was due for an answer on Tuesday, 22 February 2000. It was answered by Baroness Quin (Labour) on Tuesday, 22 February 2000 on behalf of the Ministry of Agriculture, Fisheries and Food.

Ministry of Agriculture Fisheries and Food

Question: To ask the Minister of Agriculture, Fisheries and Food, if he will make a statement on the availabililty of EU funds to offset the impact of fluctuations in the green pound. - Inc figures.

Answer: Mr. Paul Marsden: To ask the Minister of Agriculture, Fisheries and Food if he will make a statement on the availability of EU funds to offset the impact of fluctuations in the green pound. [110712] Ms Quin: £264 million in agrimonetary compensation has been, or is being, paid to UK livestock and arable farmers as the 100 per cent. EU-funded first instalment of a compulsory three year package to compensate for the effects on direct payments of euro/sterling exchange rates in 1999. A further £132 million of EU funds will be paid over the period 2000 to 2001 if exchange rates remain as they are. Following further currency fluctuation, additional optional EU-funded compensation is available; details will be provided by the Commission at the end of next month. Any additional expenditure on agrimonetary compensation would have to be considered against other calls on public expenditure; because of the Fontainebleau rebate the UK taxpayer would pay about 71p for every £1 spent.

Secondary information

Type: Written question
Reference: 344 c970-1W; 110712
Session: 1999-00
Subjects: Agriculture EU grants and loans Subsidies Exchange rates Green pound Monetary compensatory amounts
Contains statistics: Yes