07 SEP 2010
Farm aid should be reduced to about one third of the European Union's budget and spending could be shifted towards research and innovation, the EU's budget chief said on Monday (6 September) in an interview with Reuters.
Budget Commissioner Janusz Lewandowski said talks that are about to start on the EU budget, now worth about €130 billion annually, could be the most difficult in the bloc's history following the global economic crisis.
Agriculture subsidies account for more than 40% of the EU's budget. A fierce battle is expected over their future as the Union tries to overhaul its budget, and an annual rebate cherished by Britain could be under threat.
The European Commission will publish proposals on the future of the farm subsidies next month.