Common agricultural policy

< Criticism of the European Union

Introduction
The CAP was one of the most inefficient economic policies and a waste of money. At its peak, it took over 70% of the EU budget, even after decades of slow reform, it still accounts for 40% of the budget. The Common Agricultural Policy – in effect subsidised farmers to produce goods that nobody wanted. The excess supply was often dumped on world markets creating falling prices and incomes for world farmers. After many years, the worst excesses of CAP have been reformed. But, it remains persistently difficult to end the culture of subsidising agriculture. A significant existing problem with CAP is that it has rewarded large land-owners, with little reflection of social benefit. See: Transfer of funds from poor to rich landowners (see article in the Guardian) The taxpayer pays the burden of higher prices and cost to EU.

More info

 * https://www.economicshelp.org/europe/disadvantages-cap