A political grouping in the European Parliament has called for a cap on agricultural subsidies that can be drawn down by anyone one person.

The European People’s Party (EPP), to which Fine Gael is aligned, has said a new law is needed to prevent “oligarchs and land-grabbers” claiming payments at the expense of small and medium farmers.

The new law, proposed by EPP MEP Monika Hohlmeier, also seeks to introduce a register of real company owners.

The proposal comes ahead of negotiations on the EU next long-term budget.

“The European Commission must propose budgetary rules setting a maximum amount that natural persons and big holdings owning several companies can receive from EU cohesion and agricultural funds,” Hohlmeier said.