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Study: Agricultural Subsidies Produce No Growth

Politics ♦ Published: November 18, 2010; 11:31 ♦ (Vindobona)

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The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.

Study: Agricultural Subsidies Produce No Growth / Picture: © Vindobona.org

The aim of the EU cohesion policy is to reduce the economic backwardness of the poorer areas compared to the wealthier ones. In the current promotional period (2007/2013) 35.6% of the EU budget are foreseen for the "Cohesion of growth and employment”. The Common Agricultural Policy in turn, claims 42% of the EU budget as part of the budget heading "Conservation and management of…