In recent years British cereal growers have managed to hold down costs by improved labour organization and intensified mechanization but this trend cannot continue indefinitely. Exceptional conditions in 1972/73 have temporarily closed the gap between cereal prices in UK and the Six, and it seems likely that, with yields and prices moving towards expected levels at the end of the transition period, margins will rise sufficiently to maintain and possibly improve living standards.
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References
1.
MAFF (1972) Farm Incomes in England and Wales 1970-71. HMSO for Ministry of Agriculture, Fisheries and Food, London.
2.
NEDO (1972) U.K. Farming and the Common Market: Cereals. A Report by the Economic Development Committee for Agriculture. National Economic Development Office, London.
