Scrap the CAP

There's a neat symmetry in the numbers that helped to sink the European summit. The proposed budget was €50bn higher than the UK government could accept. This is the amount of money that European farmers are given every year. Britain's contentious budget rebate is worth €3.6bn a year: a fraction less than our contribution to Europe's farm subsidies.

Squatting at the heart of last week's summit, poisoning all negotiations, is a vast, wobbling lump of pork fat called the common agricultural policy. The talks collapsed partly because the president of the European council, pressed by François Hollande, proposed inflating the great blob by a further €8bn over six years. I don't often find myself on their side, but the British and Dutch governments were right to say no.

It is a source of perpetual wonder that the people of Europe tolerate this robbery. Farm subsidies are the 21st century equivalent of feudal aid: the taxes medieval vassals were forced to pay their lords for the privilege of being sat upon. Thesingle payment scheme, which accounts for most of the money, is an award forowning land. The more you own, the more you receive.

By astonishing coincidence, the biggest landowners happen to be among the richest people in Europe. Every taxpayer in the EU, including the poorest, subsidises the lords of the land: not once, as we did during the bank bailouts, but in perpetuity. Every household in the UK pays an average of £245 a year to keep millionaires in the style to which they are accustomed.

Are subsidies needed?

No more regressive form of taxation has been devised on this continent since the old autocracies were overthrown. Never mind French farmers dumping manure in the streets: we should be dumping manure on French farmers.

The European commission maintains that subsidies are required to help farmers "contribute to growing world food demand, expected … to increase by 70% by 2050". But if world food demand is expected to grow by 70%, why do we need subsidies? Not long ago, farm payments were justified on the grounds that world demand was low. Now they are justified on the grounds that world demand is high. The policy comes first, the justifications later.

Europe is in crisis. It is in crisis because the money has run out. Essential public services are being cut (often unjustly and unnecessarily), but at the same time €50bn a year is being paid to landowners. Seldom in the field of human conflict was so much given by so many to so few.