27 June 1997

Green £change?

ANOTHER income-sapping green £ revaluation is on the cards.

As FW went to Press on Wednesday, the gap between the green rate and the market value of sterling had edged above 5%, the level at which revaluations are triggered.

This difference has to be maintained right through to Aug 21 before the new green rate can be confirmed, leading to lower support and compensation payments. But with sterling on a strong upward trend against the Continental currencies, this seems increasingly likely.