Government

EP approves multi annual EU budget proposals

BRUSSELS,The European Parliament (EP) Wednesday passed the European Comission’s proposals for the 2021-2027 multi-annual financial framework (MFF) by 409 votes to 213.

However, the EP asks for the educational Erasmus-programme budget to be tripled, specific funding for SMEs and tackling youth unemployment to be doubled and the research and innovation budget to be increased by at least 50 percent.

As to reforming the EU’s sources of revenue, the EP welcomed the proposed introduction of three new EU own resources, based on a new corporate tax scheme, revenues from the Emissions Trading System and a plastic tax, to reduce gross national income-based direct contributions from EU member states. This resolution supplements Parliament’s position and mandate for the forthcoming negotiations with the EU Council of Ministers. The adoption of a new MFF Regulation requires Parliament’s consent. About 94 percent of the EU budget funds real activities on the ground in EU countries and beyond. It goes to citizens, regions, cities, farmers, researchers, students, NGOs and businesses. The EU’s administrative expenses account for about 6 percent of the total EU budget.

Following the approval of the MFF, EP President Antonio Tajani commented that “this Parliament believes that the Commission proposal with a ceiling on resources of 1.11 percent of Member States GNI is insufficient.” “As of 2021, the United Kingdom will no longer contribute. If we want to spend less at the national level and be more effective, we need to create economies of scale and added value at the EU level. To this end, we must invest at least 1.3 percent,” he said.

Source: Kuwait News Agency