§ Mr. Barry Field
To ask the Minister of Agriculture, Fisheries and Food what progress he has made in the European Economic Community on negotiations over the green pound.
§ Mr. MacGregor
On 18–19 July the Agriculture Council formally confirmed, as part of the price-fixing agreement, that as the next stage in dismantling MCAs by 1992 the green pound will be devalued on 1 January 1989 so as to reduce United Kingdom MCAs by 3.2 points in all sectors except beef, for which decisions on green rates are to be taken later. It was also agreed that the Commission should now examine the measures to adopt for future stages. These were issues for which the United Kingdom, however, had particularly pressed.