European Parliament rejects long-term budget proposal

BRUSSELS, The European Parliament Wednesday expressed its opposition to European Council President Charles Michel?’s proposal for the next long-term budget.

“His proposal for the next Multiannual Financial Framework 2021-2027 falls well below the European Parliament?’s expectations and those of the citizens,” said the EP in a statement.

“Where we would expect significant investment to deliver the Green Deal, the digital transition and a stronger Europe, President Michel confirms or deepens the cuts to funding for agriculture, cohesion, research, infrastructure investments, digitalisation, SMEs, Erasmus, youth employment, migration, defence and many other areas,” said the EP.

The EP therefore said it opposes this proposal and expects the European Council not to adopt conclusions on this basis.

Michel has called for an extraordinary EU summit in Brussels tomorrow Thursday to agree on the EU?’s long-term budget for 2021-2027, the multiannual financial framework (MFF).

He is expected to propose to the EU leaders a compromise plan for the budget estimated at 1.1 trillion euros (USD 1.18 trillion) over seven years.

European Commission President Ursula von der Leyen recently warned that Brexit (UK’s departure from the EU) has left the Union short of 75 billion euros (USD 80 billion) over the seven-year budget period.

MFF sets the limits for EU spending over a period of seven years, as a whole and also for different areas of activity. The annual budget of the EU has to comply with the MFF.

Source: Kuwait News Agency