asked the Minister for Agriculture and Fisheries the effect of the continuous drop in the value of sterling on the transitional compensatory amounts payable on Irish exports.
Ceiseanna—Questions. Oral Answers. - Monetary Compensatory Payments.
10.
In the case of exports of certain Irish agricultural products to the UK, accession compensatory amounts which are being phased out over the transitional period, are payable as subsidies. These are not affected by the decline in sterling when the net monetary compensatory amounts position between this country and the UK is taken into account. Indeed, their value was increased as a result of the changes in the representative rate for the Irish £ in October, 1974, and March, 1975.
In the case of certain agricultural exports to other member states, the accession compensatory amounts are charged in the currency of the importing member states and, as the value of the Irish £ has fallen in relation to the currencies concerned, the equivalent in terms of Irish currency of these compensatory amounts has correspondingly increased.
11.
asked the Minister for Agriculture and Fisheries the monetary compensatory amount payable for each week of 1975 to date.
As the reply is in the form of a tabular statement, I propose, with the permission of the Ceann Comhairle, to circulate it with the Official Report.
Following is the statement:
|
Period |
Rate of Monetary compensatory amount for Ireland |
|
% |
|
|
1st to 12th January |
10.5 |
|
13th January to 1st February |
11.8 |
|
3rd to 16th February |
13.2 |
|
17th February to 2nd March |
12.0 |
|
3rd March to 11th May |
6.9% |
|
12th to 18th May |
8.0 |
|
19th to 25th May |
9.7 |
|
26th May to date |
11.0 |
A new representative rate for the Irish £ for CAP purposes was adopted as from 3 March.