1. What is the purpose of the CAP? The common agricultural policy CAP is a system of...
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1. What is the purpose of the CAP?
The common agricultural policy CAP is a system of subsidies paid to EU farmers. Its main purpose is to guarantee minimum levels of production.
The policy costs around £30bn a year or half the EU’s £60bn annual budget.
Agreed reforms do not reduce this cost.
Source: The Guardian, June 26, 2013
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Foundations Of Microeconomics
ISBN: 9780063076280
7th Global Edition
Authors: Bade, Robin;Parkin, Michael
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