Farming industry warned on takeover price wars

UK Government Ministers unveiled on 12 February 2004 the future shape of support for farmers in England under reforms of the Common Agricultural Policy (CAP). The Environment Secretary, Margaret Beckett, announced that subsidies will start off being paid largely on a 'historic' basis, reflecting the amounts currently paid to individual farmers. A new system of flat-rate payments, redistributing payments more widely, will be phased in over eight years. The move is intended to emphasise farmers' future roles as land managers as well as food producers, whilst giving them time to adapt.

The National Archives Department for Environment, Food and Rural Affairs: Press Releases http://webarchive.nationalarchives.gov.uk/20130123162956/http://www.defra.gov.uk/news/category/news/press-releases/

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