Analysis: P2 funding levels in 2014-2020 at mercy of national transfer options

摘要

Actual EU spending on Pillar Two of the CAP in 2014-2020 could be as much as 20% less than in the previous seven-year period - or up to 14% more - depending on implementation decisions to be taken by member states over the next few months.This has become clear from the latest CAP reform agreement which contains plans for an unparalleled degree of flexibility in the transfer of budget funds between the two Pillars of the CAP. The new Rural Development Regulation which is now set to be formally adopted in the coming weeks also presents, for the first time, yearly P2 spending totals by member state set out in 'current' prices - i.e. with an annual inflator taken into account. Previously published figures have maintained the convention of stating the figures in constant 2011 prices, i.e. with no inflationary element included.