Commission tables proposal for "Financial Discipline" for CAP Direct Payments in 2014 financial year

With the forecast for expenditure on CAP Direct Payments & Market measures for 2014 higher than the provisional ceiling for 2014 agreed by EU heads of government1, the European Commission has tabled a proposal for "Financial Discipline" to ensure that spending remains within budget limits.
The concept, established in 2003 but never triggered until now, requires the Commission to make a proposal before the end of March introducing a linear cut in CAP Direct Payments in order to ensure that the ceiling for the CAP's first pillar in the forthcoming year is respected.