Press Release: Commission proposals for 1.30% Financial Discipline in 2015 budget

On 26 March 2014, the European Commission adopted a proposal on the application of the financial discipline mechanism for the Common Agricultural Policy (CAP) budget for the financial year 2015. In order to ensure that the market crisis reserve of €433 million is available in the 2015 budget, the proposal is to reduce CAP Direct Payments exceeding €2000 by 1.301951%, with the exception of direct payments for farmers in Bulgaria, Romania and Croatia as they are still being phased-in in those Member States. This compares with a rate of 2.453658% that was applied for 2014.