Negotiations about the budget for the coming year are continuing between the European Parliament and the Council of the European Union. It will be the first annual budget under the multiannual financial framework 2014-2020.

The Lithuanian Presidency of the Council submitted the EU 2014 draft budget on Tuesday 10th September. It is around 6% lower than the previous year but the Structural funds and Cohesion funds and agriculture are not affected by the drop.

However, disagreements between the two institutions of the European Union appeared about economic growth and employment.

While the Council exposed the programmes that encourage growth and job creation as high priorities, the Parliament considers that the budget costs presented by the Council go against its commitments and the economic recovery.

The European institutions agreed on these priorities during the trilogue (Commission – Parliament – Council) about the 2014 EU budget, which began the first week of September in Brussels. Negotiations on the 2014 EU budget will take place in October, three months before the start of the new multiannual financial framework.

The Budget Committee of the Parliament will define its position in early October, which will be put to the vote in plenary the 23rd October. If the Council does not accept amendments of the European Parliament, the two institutions should have recourse to conciliation for a period of 21 days.