I thank my noble friend for so eloquently and comprehensively speaking to this group of statutory instruments, which appear technical in nature, as he said. I have a couple of questions rather than comments.
My noble friend mentioned the exchange rate that was used. Is it set in stone or kept under review? Have his department or the Treasury taken a view about the impact on the farming community of the difference between the exchange rate used for these purposes and the general exchange rate, which we know has fluctuated wildly since the date of the EU referendum? Will it be kept under review going forward?
My second question was raised in the House of Commons in relation to one of this group of SIs. It is generally understood that the department will pursue the principle of recovering costs, which I presume will not be that great. Does my noble friend have any idea about at which stage they might be recovered?
My final question relates to the Import and Export Licences (Amendments etc.) (EU Exit) Regulations. I think there may be a role for export refunds. Have they been frowned upon by the EU Commission and the department, or are they something that may be considered? Or would my noble friend rule them out because he does not imagine that there would be any scope or role for export refunds in relation to this SI?