CAP still takes nearly half of the budget

Defenders of the CAP in its present form are always asking why another reform is needed. Last year agriculture and rural development allocations accounted for 47.5% (€43.6 billion) of the EU budget, admittedly down from 54.1% (€44.4 billion) in 2003.
France was once more the largest recipient of agricultural largesse, followed by Spain, Germany and Italy. New member state Poland appeared in fifteenth position.

Could a better use be found or at least some of this €43.6 billion? I and many others think so.