Press Release: Less money needed for agricultural policy in 2001

The EU's agriculture budget for 2001 will require €930 million less than originally foreseen in the European Commission's budget proposal from May 2000, according to new estimates for agricultural expenditure. The Commission adopted on the 31 October 2000 the second letter of amendment for the 2001 Budget on this basis. 'The new estimates show that there is room to redeploy money in the budget without cutting the obligatory payments to farmers. The new forecasts will make it easier to find a common agreement on the budget between Parliament and Council.' said Budget Commissioner Michaele Schreyer.

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