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The Common Agricultural Policy

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  • C N Morris

Abstract

Nearly all food prices in Europe are now determined, not by market forces, but by the operation of the Common Agricultural Policy. The purpose of this paper is first to explain the principal elements of the policy and then to estimate the resource flows which result. Recent discussion has concentrated on the budgetary cost to the UK which is neither a complete nor a meaningful measure of teh economic costs imposed by the policy. The principal cost results from the large difference between the prices paid for food by UK consumers and those which they would have to pay if they were able to buy freely on a world market. This is partly offset by the gains which UK producers derive from these higher prices, but increases by the taxes on non-agricultural commodities which are levied to finance comminity agricultural expenditures such as the purchase and storage of farm produce in excess supply. The net sum of these costs to the UK was, we estimate, £1370m in 1977-8 and will rise to around £2350m in 1980.

Suggested Citation

  • C N Morris, 1980. "The Common Agricultural Policy," Fiscal Studies, Institute for Fiscal Studies, vol. 1(2), pages 17-35, March.
    • Handle: RePEc:ifs:fistud:v:1:y:1980:i:2:p:17-35
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    Cited by:

    1. Philippidis, G. & Hubbard, L. J., 2001. "The economic cost of the CAP revisited," Agricultural Economics, Blackwell, vol. 25(2-3), pages 375-385, September.
    2. Josling, Timothy E. & Pearson, Scott R., 1982. "Developments in the Common Agricultural Policy of the European Community," Foreign Agricultural Economic Report (FAER) 147189, United States Department of Agriculture, Economic Research Service.
    3. Robert W. Ackrill & Robert C. Hine & Anthony J. Rayner & Massimo Suardi, 1997. "Member States And The Preferential Trade And Budget Effects Of The 1992 Cap Reform: A Note," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 93-100, January.

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