EU’s budget for 2016 : a new agreement

December 1, 2015

Hat: EU's budget for 2016 : a new agreement

Funding Scheme: 2015-12-01

Pgm2014 2020: Yes

Amorce:

The Parliament and member states in the Council reached a provisional deal on14 November. The outcome now needs to be endorsed by the Council, while all MEPs have the chance to vote on it during the November plenary

Text:

Portuguese EPP member José Manuel Fernandes, who helped to negotiate the EU’s general budget on behalf of Parliament, said after the agreement with the council was reached: “The budget for next year has to be a budget for jobs, competitiveness and solidarity: that is what Parliament has been fighting for. On the one hand, we ensured sufficient funding for the ongoing migration and refugee crisis, among others by reacting swiftly to the agreements reached at the summit in Valletta. On the other hand, we reinforced the EU research and development tool Horizon 2020, won extra funding for small and medium sized enterprises and the Erasmus+ student exchange programme and secured a commitment that the youth employment initiative will continue.”

The preliminary figures for 2016 are €155 billion in commitment appropriations and €143.8 billion in payment appropriations. Commitments are the contractual obligations that could span more than one year, while payments are the expenditure foreseen to be made in the 12-month period.

Next steps

After the Coucil formally adopts the compromise – which is expected to happen on 24 November – all MEPs will vote on it in plenary the day after. If they approve it too, then EP President Martin Schulz will sign the EU’s budget for 2016 into law.

About the EU budget

The EU’s budget accounts for 1% of the gross national income of all 28 member states. Most of the budget is spent in these same countries on European programmes. Every year the European Commission proposes an annual budget, which is then negotiated by the Parliament and the Council.

Url description: European Parliament

Url: http://www.europarl.europa.eu/news/en/news-room/content/20151030STO00793/html/Parliament-and-Council-reach-an-agreement-on-the-EU's-budget-for-2016