Farming and fishing industries to be hit by new EU Budget cuts

The European Commission is proposing to cut a further €3.6bn from the Budget for 2011.

The allocation for farmers and fisheries is to be cut by €820m, and €841m will be shaved off programmes aimed at boosting Europe's competitiveness.

The biggest savings are in the cohesion funds targeted at the EU's poorest regions, which the Commission wants to cut by €1.1bn from its draft Budget.

The €126.5bn Budget is yet to be approved by the European Parliament.

The amendments outlined today still represent an increase of 2.9% on this year's EU Budget, however.