EP obtains €16bn more for key programs

EP budget negotiators and the Council Presidency have reached a compromise outlining a political agreement on future EU financing. After ten weeks of intense negotiations, Parliament’s budget negotiators agreed with the Council Presidency on the outline of an agreement on the next Multiannual Financial Framework (MFF 2021-2027) and new Own Resources. The compromise needs to be endorsed by both institutions.

In the compromise, Parliament obtained €16 billion on top of the package agreed by heads of state or government at their summit in July. €15 billion will reinforce flagship programs to protect citizens from the Covid-19 pandemic, provide opportunities to the next generation, and preserve European values. €1 billion will increase flexibility to address future needs and crises.

Parliament’s top priority was to secure an increase for flagship programs that were at risk of being underfinanced under the European Council’s July 2020 agreement, jeopardizing the EU’s commitments and priorities, notably the Green Deal and the Digital Agenda.

The additional funds will be drawn mainly from amounts corresponding to competition fines (which companies have to pay when they do not comply with EU rules), in line with Parliament’s long-standing request that money generated by the European Union should stay in the EU budget.

(ISBnews)