The European Commission has unveiled imminent plans to abolish the European Union system of pre-financing export refunds for food, a complex subsidy that has been criticised by the EU financial watchdog, the Court of Auditors.
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Agriculture Commissioner Mariann Fischer-Boel said that the system would be replaced with direct controls on beef exports, which the refund pre-financing has encouraged in the past. She told EU ministers that this role was less important now the EU was a net importer of beef.
Pre-financed refunds for cereal exports have been the other main use.
Fischer Boel said there would probably be a six-month phase-out period.
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By GlobalData
