Thursday, July 6, 2017

Rich List billionaires scoop up millions in farm subsidy payments

subsidy payouts, Energydesk’s latest investigation into the top 100 recipients of direct payments has found. Analysis of new government data reveals that one in five of the 100 largest payments under the European Union’s “direct” subsidy system now go to people or families on the Sunday Times Rich List. Direct EU subsidies – now known as “basic payments” – have attracted criticism for largely rewarding landowners simply for owning land, rather than paying farmers to invest in environmental or other “public goods”. New environment secretary, Michael Gove, has promised to maintain current payment levels under the Common Agricultural Policy (CAP) until at least 2022. The government has also committed to reforming UK farm subsidies after Brexit. But there is still little certainty about what these reforms will look like or how quickly they will arrive.

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