§ Mr. Gould
asked the Minister of Agriculture, Fisheries and Food what was the actual cost of United Kingdom imports of commodities subject to the CAP in the first half of 1976; what the cost would have been if they could have been obtained at the world price free of duties and levies; and what the cost would have been if they had been paid for (a) free of MCAs and (b) free of MCAs and at the end of the transitional period.
§ Mr. John Silkin
The cif cost of imports into the United Kingdom of commodities covered by the CAP is estimated at some £1,500 million in the six months ended June 1976. It is not possible to estimate the cost at world price because many items are traded in very limited quantities,604W or mainly within the Community, or with considerable variation in quality. In the six months ended June 1976 the value of monetary compensatory amounts paid to United Kingdom importers by the Intervention Board for Agricultural Produce was some £73 million. MCAs on United Kingdom imports from other members of the Community since 17th May, with the exception of Italy, have been paid to the exporter by the intervention agency in his own country, and information on these payments is not available. The cost of importing at the end of the transitional period cannot be reliably predicted since it depends on future movements of demand and supply and on the future foreign exchange value of the pound.