23 February 2000
EC to cut back farming funds

THE European Commission is expected to agree to cut Euro300 million (185m) from the maximum that can be spent under the EU Common Agriculture Policy.

The Financial Timesreports that this follows an agreement between agriculture commissioner Franz Fischler and Michaele Schreyer, commissioner for budgetary matters.

The cash will go towards aid for war-ravaged Kosovo.

The FT says this could lead to another expenditure cut of Euro100m. It leaves CAP spending at Euro39.6bn.

The commissioners said there would be no need to reopen Agenda 2000 reforms. Aides said it would not mean a cut in aid payments to farmers.