The Government formally conveyed to the European Commission its "deep concern" regarding the European Commission's proposal to cut the budget allocated to the Common Agricultural Policy (CAP) between 2028 and 2034. According to the Commission's proposal, the CAP would be reduced from the current €386 billion. The Regional Minister of Agriculture, Fisheries and the Environment, Joan Simonet, explains that this reduction "could translate into a loss of around €15 million per year in the Balearic Islands."