Common Agricultural Policy payments could be slashed in next EU budget
Common Agricultural Policy payments could face major reductions in the next EU budget.
CAP currently accounts for 40% of the funds but once the UK leaves, there will be a shortfall of €10bn-€12bn in the budget.
The Commission has published a reflection paper today to start a debate on what areas of funding should be reduced.
Former secretary general of the Commission Catherine Day said we should prepare for CAP to be reduced.
"The important thing is for Ireland collectively, including the farming sector, to take a long, hard look at what we expect the EU to finance for us, versus what can we finance ourselves," she said.
"One new factor since the last time the EU budget was fixed is that Ireland is now a net contributor.
"The bottom line is that if you want to keep the CAP exactly where it is, you would have to cut back on regional funding or on other parts of the budget."
