Cap the C.A.P.

Global Growth is campaigning against the obscenity of the Common Agricultural Policy in 2005. As I cannot resist an opportunity to Smack the Cap, I will happily lend my support.

The campaign aims to get the governments of the E.U. to commit to a timetable to not only eliminate all agricultural export subsidies, but to cap the amount of subsidies any one person, farm or firm can claim to a total limit of €100,000 per year right across Europe. The ultimate aim is to end agricultural subsidies.

This is a campaign I can wholeheartedly support. Here are just two reasons why:

As much as €40 billion a year could be generated in agricultural exports by the developing world if protectionist policies were abandoned by the rich countries. Consumers in Europe are effectively paying a 26% tax on all their food purchases.

It’s a win-win, what are we waiting for.