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Glossary

FINANCIAL PERSPECTIVE


The word 'perspective' here really means 'plan'. The EU has to plan its work well in advance and ensure that it has enough money to pay for what it wants to do. So its main institutions (Parliament, the Council and the Commission) have to agree in advance on the priorities for the next few years and come up with a spending plan which is called a 'financial perspective'. This financial perspective states the maximum amount the EU can spend, and what it can spend it on. In a world of rising costs, the purpose of the financial perspective is to keep EU expenditure under control.

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