25 April 1997

June 5 revaluation

A GREEN £ revaluation will come into effect on June 5, unless there is a significant reversal of sterlings upward trend before then.

As fw went to Press on Wednesday, the green £ gap stood at 5.7%, suggesting a 2.8% cut in support prices if that is maintained to June. Crucially, that reduction will also apply to 1997 area aid and set-aside payments.n