The European Union allocated substantial farming subsidies, totaling €3.3 billion, to billionaire-owned companies, resulting in the closure of many small farms. This highlights serious disparities in support for agriculture.
Benoit Biteau, a French organic farmer and Member of the European Parliament, emphasized the absurdity of billionaires receiving EU subsidies while the majority of farmers struggle to survive, revealing the flaws in policy design.
The EU’s Common Agricultural Policy bases subsidies primarily on land ownership rather than on actual need, leading to a system where wealthier individuals benefit disproportionately, raising concerns about equity in financial assistance.
Research by the Centre for European Policy Studies indicates that transparency issues and complex ownership structures enable the billionaires to receive public funds with minimal oversight, showcasing a lack of accountability in subsidy distribution.
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