NFU chief lobbies Bank of England governor

24 May 1999

NFU chief lobbies Bank of England governor

BEN GILL, president of the National Farmers Union, hopes to persuade the governor of the Bank of England to change his mind on interest rates today (Monday).

Mr Gill is due to meet Eddie George and tell him high interest rates and a resulting strong pound are doing irreversible damage to the rural economy.

He will point out to George that Britains rates are more than double those elsewhere in the European Union.

The strong Pound has reduced the value of European farm subsidies to British producers, while sucking in imports and making exports uncompetitive.

Mr Gill says he will tell the governor that the decline in agriculture has a knock-on effect throughout the rural economy.

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