Farm, cohesion funds win reprieve in updated EU budget plan

BRUSSELS Thu Nov 22, 2012 5:40pm EST

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BRUSSELS Nov 22 (Reuters) - European Council President Herman Van Rompuy reduced proposed cuts to EU agriculture and regional development spending in the latest compromise proposal on the EU's next long-term budget, EU sources said on Thursday.

The overall level of cuts to the proposed 1 trillion euro spending blueprint remained broadly the same as under a previous Van Rompuy compromise at about 80 billion euros, sources with knowledge of the proposal said.

"The overall level of cuts is between 75 and 80 billion euros -- it stays the same," one of the sources said. "But in cohesion and agriculture there is an increase."

Those changes mean there are likely to been deeper cuts to EU salaries and benefits and funds for cross-border energy and telecommunications infrastructure.

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