It might be worth giving up the British rebate for serious CAP reform, but it is unnecessary. If the CAP were abolished, Britain’s net payments to the EU would automatically be much smaller anyway, so the rebate (66% of the difference between the UK’s contributions to the EU and its receipts from it) would also shrink away to insignificance. CAP reform is worth doing for its own sake, and other EU countries will only agree to it once they realise that fact - offering up the rebate will make no difference. In any case, even if the rebate was a useful bargaining chip to be cashed in, there is no chance of individual countries such as France (or Eire, Spain, Greece, Italy, Belgium, etc.) agreeing to changing the CAP at present and any one country could prevent it, so Britain should hold on to the rebate card.