presented by producers, consumers and workers on the ECSC Consultative Committee. As regards prices generally the NCB, the BSC and the independent steel producers will need to operate pricing practices in accordance with the common rules which will apply within the enlarged Community; in the formulation of future policy in this field we shall of course have a major role. Coal imports from Community countries will be free from restrictions, as will our coal exports to them. This freedom of trade should benefit our coal industry.
158. As regards transitional measures it has been agreed that tariffs for steel products covered by the Treaty of Paris will move at the same rate as has been agreed for industrial products generally (see paragraph 79 above). We have also secured a transitional period of two years during which we may, if we wish, maintain control over the export within the cnlarged Community of certain grades of scrap.
159. We shall gain access to the reserve funds of the Community, which amount to about £90 million, immediately upon accession and will be able to benefit from them on an equal footing with other member states. Accordingly we have agreed to make an investment in them amounting to £24 million, to be paid in three equal annual instalments starting from the date of our accession. This is rather less than would be called for on a strict application of the ratio of the value of our coal and steel production to that of the Community. The money will be banked and spent primarily, probably wholly, in the United Kingdom.
European Atomic Energy Community
160. The European Atomic Energy Community (Euratom) is the third of the European Communities. It was set up by a separate Treaty which, like the Treaty setting up the Economic Community, was signed in Rome in 1957. It is concerned with the peaceful uses of atomic energy, promotes nuclear research and ensures the dissemination of technical information.
161. We have agreed to accept this Treaty and the rules made under it without any transitional period, except in the case of tariffs, where the necessary changes will be made one year after accession. This movement in tariffs, which is more rapid than is being applied in the case of industrial products generally, is potentially beneficial to our interests. The balance of trade in nuclear items between this country and the other members of the enlarged Community is already in our favour and could improve further.
162. We have assured the Community that we shall play a full part in the future of Euratom and have agreed to participate in its research programmes. The Community have assured us that these programmes can be modified to take account of our entry. We expect some contracts for nuclear work to be placed in the United Kingdom.
163. Euratom operates a system of control and inspection of civil nuclear installations which is designed to ensure that nuclear materials are not diverted to purposes other than those for which they are intended. We have agreed to accept the Euratom control system. This will not, of course,
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