E.E. C. Farm Fund Figures Published

Press, Issue 32345, 10 July 1970, Page 13

E.E. C. Farm Fund Figures Published

(N.ZP.A. Staff Correspondent) LONDON, July 9, New figures on what the six nations in the European Economic Community have gained from, and contributed to, the Common Market’s controversial farm fund have been published in Brussels.

The prospect that Britain will have to pay far more to the fund than she will receive in return is the main obstacle, at present, standing in the way of British entry, and the main issue likely to arise in the negotiations. Basically, the fund exists to support inefficient European farmers at the expense of efficient ones, the consumer, and the taxpayer. The new figures show that between 1962 and 1969, three countries gained from the fund, and three lost. The winners were France (USs6l3m), the Netherlands (USslB2m) apd Luxemburg (USs3m); the losers, West Germany (USs4slm), Italy (USs263m) and Belgium (USsB3m). The fund has two sections. One is the guarantee section, which covers domesticsupport buying and selling, and pays “restitution” for produce sold abroad at less than the domestic price. Total spending under this section between 1962 and 1969 was SUS3443m, at a rate rising from SUS29m, when the fund was new to SUSIS6Om in 1968-69. The other section is the guidance section which, since 1964, has provided im--1 provement grants for pro-

duction and marketing. It has paid out a total of SUS633m. The total payment by the farm fund between 1962-63 and 1968-69 was SUS4O76m.