European Community (United Kingdom Membership)

Part of Oral Answers to Questions – in the House of Commons at 12:00 am on 24th July 1980.

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Photo of Mr Tony Marlow Mr Tony Marlow , Northampton North 12:00 am, 24th July 1980

When my right hon. and learned Friend next meets the Finance Ministers in Europe, will he draw their attention to the fact that food and feed stuffs, imported last year under the common agricultural policy, at common agricultural prices, gave us a bill of some £627 million beyond and above the price that we would have to pay if we had bought the same goods on the world market? If we had bought our stuff on the world market, and not under the CAP, it would have made no difference to the world's supply and demand situation, and we could have made a saving of £627 million. This constitutes a real increase to the budget deficit. Will he bring this fact to the attention of the Finance Ministers and ensure that they take good account of that in any future financial calculations?