Print Magazine
Brussels Morning Newspaper
Thursday, February 9, 2023
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home EU Institutions

EU budget deal agreed again – still pending EU leaders’ consent

Anna-Karin Friis by Anna-Karin Friis
26 January 2021
in EU Institutions, Features
EU budget deal agreed again – still pending EU leaders’ consent
Share on FacebookShare on Twitter

Brussels (Brussels Morning) Talks on the EU budget have been going since August. The budget deal today foresees the EU’s finances up until 2027. The long-term budget at this stage amounts to just over 1,8 trillion euros, including the corona recovery package worth 750 billion euros in loans and funds.

After a three-day marathon meeting in July, when EU leaders agreed on the outline and set the maximum level of expense, more detailed talks have been underway between the European Parliament and the EU countries. The final budget package still awaits approval by EU leaders at their next summit in December.

Already, Hungary’s Victor Orban has signalled he intends to veto the budget deal and the release of the corona recovery funds since he opposes the rule of law conditions that would apply under the new budget term. Agreement on the EU budget requires unanimity, 

At this stage, a rough outline suggests that 30% of the budget would be designated to fighting climate change, the highest share in an EU budget so far. That includes funds to protect biodiversity from eroding further. The idea is to trace the actions under the budget to make sure that at least 30% actually support climate goals and biodiversity.

Over half of the budget falls under research and innovation; the Horizon Europe programme, the EU’s new health programme and Erasmus+ are all winners, along with the digitalisation programme and the EU’s civil rescue programmes.

Still, the traditional EU policies continue to receive substantial support; both regional cohesion and the CAP, the agricultural policy, are prominent budget posts but labelled under new headings of support to green and digital transitions. In addition, EU farmers will get corona support for the next two years worth 8 billion euros.

The European Parliament flags as a win that it did obtain €16 billion on top of the package agreed by EU leaders; €15 billion will reinforce the Green Deal and the Digital Agenda and a further billion euros spent on resilience programmes nationally. The Parliament also insisted on increases to the research budget. Gender equality becomes more important through benchmarking of programmes against their gender impact.

Limits to EU countries’ payments

The EU countries contribute to the budget based on their GNI but in order to limit the ceiling of what countries can be expected to pay, the aim is for more funds by EU taxes and levies. 

The Emission Trading System ETC will be reviewed next year and might then include both the aviation sector and maritime transport; based on the future ETS, the Commission might receive further funds of its own through direct levies. Both a carbon adjustment mechanism and a digital levy should bring in budget resources for the EU in a few years’ time. 

Another source of resources for the EU could be a financial transaction tax or a corporate sector tax that would go straight into the EU’s coffer, but those taxes would only be decided on in the next five years. 

The clause conditioning the disbursement of EU funds against breaches of the rule of law counts from last week, meaning that the EU budget now for the first time would be applying its budget protection mechanism.

Tags: Brussels LatestEU budgetfinances
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • Health & Fitness
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • Brussels Bubble
    • Parliament
    • Commission
    • Council
  • Wider Europe
    • Member States
  • World
  • Business & Society
  • Europe With Transparency
  • Culture & Society
  • Policy Talks
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • Ambassador’s Corner
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT