The EU Commissioners and Parliament agreed the principle terms for a major Reform of the Common Agricultural Policy last week.

The Common Agricultural Policy (“CAP”) provides support payments to farmers and landowners, primarily by way of Direct Payments (currently the Single Payment) and Environmental Stewardship support. The CAP represents the largest allocation of funds paid centrally through the EU budget, currently representing over 40% of that budget, albeit still only a relatively small proportion of total government expenditure.

Both CAP and EU Budget were due for review in 2014. Terms for Review have now been agreed in principle (on 26th June 2013) and the new EU Budget for 2014 - 2020 has also been agreed in principle (on 27th June 2013) although the new provisions are unlikely to take effect until 1st January 2015.

Read our full CAP Reform briefing here.

If you have any questions please don't hesitate to get in touch with one of our Farming experts.