The EU spends around 30 billion euros each year on the single payment scheme, by far the largest of the myriad schemes and programmes that together comprise the 54 billion euro budget of the Common Agriculture Policy. The scheme was first introduced in 2005 but it is hard to see it surviving in its current [...]
It’s not uncommon to see reports of people queueing up all night for the latest iPhone, the next Star Wars movie or tickets to watch tennis at Wimbledon. But as I write, farmers in Northern Ireland are queueing outside for farm subsidies. The government in Northern Ireland has decided to hand out farm subsidies ‘on [...]
The resort to intervention buying and export refunds in the dairy sector has been predictably bad PR for the EU, especially in the southern hemisphere. But a more fundamental question is, can these tired old policy instruments work any magic in a deep economic crisis?