The deepest cuts in the latest proposal fall on EU cohesion funds used for building motorways, bridges and other infrastructure projects in less developed regions, which have been reduced by about 17 billion euros.Farm spending, which had been left largely untouched in the Cypriot compromise, is reduced by nearly 15 billion euros in the Van Rompuy proposal, including a cut of 8 billion euros in direct subsidies.France has long threatened to oppose any plan that reduces payments to farmers, which currently account for about 40 percent of all EU spending.But Britain, Sweden and others would like the EU to reduce spending on farm subsidies to free up funds for research, energy projects and other measures to boost economic growth.
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